Scotiabank Cuts Quanterix (NASDAQ:QTRX) Price Target to $18.00

Quanterix (NASDAQ:QTRX) had its target price reduced by Scotiabank from $28.00 to $18.00 in a research report report published on Tuesday morning, MarketBeat reports. They currently have a sector outperform rating on the stock.

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

Quanterix Price Performance

Shares of Quanterix stock opened at $6.77 on Tuesday. Quanterix has a 1 year low of $6.30 and a 1 year high of $23.94. The stock has a market cap of $262.51 million, a PE ratio of -6.39 and a beta of 1.33. The firm has a fifty day moving average price of $8.04 and a 200 day moving average price of $10.69.

Quanterix (NASDAQ:QTRX) last issued its quarterly earnings data on Monday, March 17th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $35.16 million for the quarter, compared to analyst estimates of $34.93 million. As a group, equities analysts expect that Quanterix will post -0.98 EPS for the current year.

Institutional Trading of Quanterix

Several large investors have recently made changes to their positions in QTRX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Quanterix by 2.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 520,869 shares of the company’s stock valued at $5,537,000 after purchasing an additional 10,111 shares during the last quarter. Williams Jones Wealth Management LLC. increased its position in shares of Quanterix by 39.9% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 471,514 shares of the company’s stock valued at $5,012,000 after acquiring an additional 134,470 shares during the last quarter. Two Sigma Advisers LP increased its position in shares of Quanterix by 35.9% during the fourth quarter. Two Sigma Advisers LP now owns 36,748 shares of the company’s stock valued at $391,000 after acquiring an additional 9,700 shares during the last quarter. Two Sigma Investments LP purchased a new stake in shares of Quanterix in the 4th quarter valued at approximately $606,000. Finally, ProShare Advisors LLC acquired a new position in shares of Quanterix in the 4th quarter worth approximately $108,000. 86.48% of the stock is currently owned by hedge funds and other institutional investors.

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.