Scotiabank Lowers Quanterix (NASDAQ:QTRX) Price Target to $28.00

Quanterix (NASDAQ:QTRX) had its target price reduced by stock analysts at Scotiabank from $32.00 to $28.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price objective points to a potential upside of 149.11% from the company’s previous close.

QTRX has been the topic of a number of other research reports. The Goldman Sachs Group lowered their target price on shares of Quanterix from $35.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Canaccord Genuity Group lowered their price objective on Quanterix from $32.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Finally, TD Cowen cut their target price on Quanterix from $17.00 to $15.00 and set a “hold” rating for the company in a research report on Friday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.80.

Quanterix Stock Up 2.9 %

Quanterix stock traded up $0.32 during trading hours on Monday, hitting $11.24. The stock had a trading volume of 117,677 shares, compared to its average volume of 397,556. Quanterix has a fifty-two week low of $10.50 and a fifty-two week high of $29.70. The company has a market cap of $430.15 million, a PE ratio of -11.71 and a beta of 1.39. The company has a 50-day moving average of $14.20 and a two-hundred day moving average of $18.82.

Quanterix (NASDAQ:QTRX) last issued its earnings results on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The firm had revenue of $34.38 million during the quarter, compared to the consensus estimate of $34.19 million. Quanterix had a negative return on equity of 10.39% and a negative net margin of 28.82%. During the same period last year, the business earned ($0.16) earnings per share. As a group, analysts forecast that Quanterix will post -0.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of QTRX. AJOVista LLC bought a new position in Quanterix in the 4th quarter valued at $81,000. Picton Mahoney Asset Management bought a new position in shares of Quanterix in the fourth quarter valued at about $139,000. Comerica Bank lifted its position in Quanterix by 44,205.6% during the 1st quarter. Comerica Bank now owns 7,975 shares of the company’s stock worth $188,000 after buying an additional 7,957 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Quanterix by 11.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 14,261 shares of the company’s stock worth $188,000 after acquiring an additional 1,417 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new stake in Quanterix during the 2nd quarter worth about $210,000. 86.48% of the stock is 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.