Quanterix (NASDAQ:QTRX) Given New $15.00 Price Target at Canaccord Genuity Group

Quanterix (NASDAQ:QTRX) had its price objective cut by research analysts at Canaccord Genuity Group from $20.00 to $15.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 106.04% from the stock’s current price.

Quanterix Stock Performance

Shares of QTRX opened at $7.28 on Tuesday. The firm has a fifty day moving average of $8.50 and a 200-day moving average of $10.97. The company has a market cap of $280.45 million, a price-to-earnings ratio of -6.87 and a beta of 1.34. Quanterix has a 1 year low of $6.80 and a 1 year high of $27.37.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Resona Asset Management Co. Ltd. acquired a new position in Quanterix during the 4th quarter valued at about $55,000. Tower Research Capital LLC TRC grew its holdings in Quanterix by 219.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,702 shares of the company’s stock worth $61,000 after acquiring an additional 3,915 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Quanterix in the fourth quarter worth about $66,000. Peapack Gladstone Financial Corp acquired a new stake in Quanterix in the 3rd quarter valued at about $131,000. Finally, ProShare Advisors LLC bought a new position in shares of Quanterix during the 4th quarter valued at about $108,000. Institutional investors and hedge funds own 86.48% of the company’s stock.

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.