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 report published on Monday, Benzinga reports. They currently have a buy rating on the stock.

Separately, Scotiabank raised their price objective on Quanterix from $30.00 to $32.00 and gave the stock a sector outperform rating in a research note on Monday, March 4th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Buy and an average target price of $30.60.

Quanterix Stock Up 0.1 %

Shares of QTRX opened at $15.58 on Monday. The business’s 50 day moving average is $22.53 and its two-hundred day moving average is $23.28. Quanterix has a 52-week low of $12.17 and a 52-week high of $29.70.

Quanterix (NASDAQ:QTRX) last released its earnings results on Thursday, February 29th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.05). Quanterix had a negative return on equity of 9.15% and a negative net margin of 26.42%. The company had revenue of $31.55 million during the quarter, compared to the consensus estimate of $27.92 million. Equities analysts forecast that Quanterix will post -1.04 EPS for the current year.

Insider Transactions at Quanterix

In other Quanterix news, Director Laurie J. Olson sold 1,500 shares of the firm’s stock in a transaction dated 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 directly owns 15,238 shares in the company, valued at approximately $371,045.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. bought a new position in Quanterix during the third quarter worth about $67,000. AJOVista LLC acquired a new position in Quanterix during the 4th quarter valued at about $81,000. DekaBank Deutsche Girozentrale bought a new position in shares of Quanterix in the 3rd quarter worth $125,000. Picton Mahoney Asset Management bought a new stake in shares of Quanterix in the 4th quarter valued at about $139,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Quanterix by 56.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,683 shares of the company’s stock worth $209,000 after purchasing an additional 2,775 shares during the period. Institutional investors 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.