Scotiabank Issues Pessimistic Forecast for Quanterix (NASDAQ:QTRX) Stock Price

Quanterix (NASDAQ:QTRX) had its target price cut by Scotiabank from $28.00 to $18.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s target price indicates a potential upside of 170.27% from the stock’s current price.

Separately, Canaccord Genuity Group decreased their price objective on Quanterix from $20.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, March 18th.

Quanterix Price Performance

NASDAQ QTRX opened at $6.66 on Tuesday. Quanterix has a one year low of $6.30 and a one year high of $23.94. The firm has a market cap of $258.25 million, a P/E ratio of -6.28 and a beta of 1.33. The stock’s 50-day moving average is $8.08 and its 200-day moving average is $10.72.

Quanterix (NASDAQ:QTRX) last announced its earnings results on Monday, March 17th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.03). Quanterix had a negative return on equity of 11.74% and a negative net margin of 30.12%. The company had revenue of $35.16 million for the quarter, compared to analyst estimates of $34.93 million. Equities analysts anticipate that Quanterix will post -0.98 EPS for the current year.

Hedge Funds Weigh In On Quanterix

A number of large investors have recently modified their holdings of QTRX. Graypoint LLC bought a new stake in Quanterix during the fourth quarter worth about $691,000. Algert Global LLC raised its stake in shares of Quanterix by 75.9% during the 3rd quarter. Algert Global LLC now owns 137,833 shares of the company’s stock worth $1,786,000 after purchasing an additional 59,496 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Quanterix by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 858,667 shares of the company’s stock valued at $11,131,000 after buying an additional 18,231 shares during the last quarter. Barclays PLC grew its stake in shares of Quanterix by 42.3% in the third quarter. Barclays PLC now owns 146,248 shares of the company’s stock valued at $1,896,000 after buying an additional 43,447 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Quanterix by 28.1% during the third quarter. JPMorgan Chase & Co. now owns 217,957 shares of the company’s stock worth $2,825,000 after buying an additional 47,873 shares during the last quarter. 86.48% of the stock is currently owned by institutional investors and hedge funds.

Quanterix Company Profile

Quanterix Corporation, a life sciences company, engages in development and marketing of digital immunoassay platforms that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific regions. The company offers HD-X instrument, a protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection in an expanded range of applications.