Scotiabank Has Lowered Expectations for Quanterix (NASDAQ:QTRX) Stock Price

Quanterix (NASDAQ:QTRX) had its price target dropped by equities research analysts at Scotiabank from $28.00 to $18.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 154.06% from the stock’s current price.

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

Quanterix Trading Down 1.5 %

QTRX stock traded down $0.11 during midday trading on Tuesday, hitting $7.09. The company’s stock had a trading volume of 38,804 shares, compared to its average volume of 507,081. The firm’s 50-day moving average is $8.15 and its 200-day moving average is $10.78. Quanterix has a 12 month low of $6.30 and a 12 month high of $24.05. The company has a market cap of $274.73 million, a PE ratio of -6.69 and a beta of 1.33.

Quanterix (NASDAQ:QTRX) last announced its quarterly 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 business had revenue of $35.16 million for the quarter, compared to the consensus estimate of $34.93 million. Analysts expect that Quanterix will post -0.98 earnings per share for the current year.

Institutional Trading of Quanterix

Hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. grew its stake in shares of Quanterix by 111.3% during the 4th quarter. Ameriprise Financial Inc. now owns 3,205,928 shares of the company’s stock valued at $34,079,000 after purchasing an additional 1,688,680 shares during the period. Portolan Capital Management LLC grew its position in Quanterix by 2.7% during the fourth quarter. Portolan Capital Management LLC now owns 2,587,824 shares of the company’s stock valued at $27,509,000 after buying an additional 67,138 shares during the period. Vanguard Group Inc. increased its holdings in Quanterix by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 2,217,225 shares of the company’s stock valued at $23,569,000 after buying an additional 19,386 shares during the last quarter. Millennium Management LLC raised its position in Quanterix by 6.0% in the fourth quarter. Millennium Management LLC now owns 2,185,101 shares of the company’s stock worth $23,228,000 after acquiring an additional 122,969 shares during the period. Finally, William Blair Investment Management LLC purchased a new position in shares of Quanterix during the 4th quarter worth $11,290,000. Hedge funds and other institutional investors own 86.48% of the company’s stock.

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.