Quanterix (NASDAQ:QTRX) Price Target Cut to $25.00 by Analysts at Canaccord Genuity Group

Quanterix (NASDAQ:QTRX) had its target price reduced by Canaccord Genuity Group from $32.00 to $25.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 54.80% from the stock’s previous close.

Separately, Scotiabank upped their price target on shares of Quanterix from $30.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Monday, March 4th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $30.60.

Quanterix Price Performance

Shares of NASDAQ QTRX traded up $0.59 during mid-day trading on Monday, hitting $16.15. 66,389 shares of the stock traded hands, compared to its average volume of 342,755. The company has a market cap of $617.69 million, a PE ratio of -18.92 and a beta of 1.30. Quanterix has a twelve month low of $12.17 and a twelve month high of $29.70. The firm has a 50 day simple moving average of $22.74 and a two-hundred day simple moving average of $23.31.

Quanterix (NASDAQ:QTRX) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.05). Quanterix had a negative net margin of 26.42% and a negative return on equity of 9.15%. The firm had revenue of $31.55 million for the quarter, compared to analyst estimates of $27.92 million. On average, equities research analysts anticipate that Quanterix will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Quanterix

In related news, Director Laurie J. Olson sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $24.35, for a total transaction of $36,525.00. Following the completion of the sale, the director now owns 15,238 shares of the company’s stock, valued at $371,045.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of QTRX. Robeco Institutional Asset Management B.V. acquired a new position in shares of Quanterix during the third quarter valued at about $67,000. AJOVista LLC acquired a new position in Quanterix during the 4th quarter worth approximately $81,000. DekaBank Deutsche Girozentrale bought a new position in Quanterix in the third quarter worth approximately $125,000. Picton Mahoney Asset Management acquired a new stake in Quanterix in the fourth quarter valued at approximately $139,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Quanterix by 56.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,683 shares of the company’s stock valued at $209,000 after acquiring an additional 2,775 shares in the last quarter. 86.48% of the stock is owned by institutional investors.

About Quanterix

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.