Leerink Partners Lowers 908 Devices (NASDAQ:MASS) Price Target to $12.00

908 Devices (NASDAQ:MASS) had its target price cut by Leerink Partners from $15.00 to $12.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Leerink Partners’ target price points to a potential upside of 234.26% from the company’s current price.

908 Devices Trading Up 4.7 %

Shares of MASS opened at $3.59 on Thursday. The stock has a market cap of $123.80 million, a P/E ratio of -3.36 and a beta of 0.97. The company has a 50-day moving average of $3.73 and a two-hundred day moving average of $5.05. 908 Devices has a 12-month low of $3.24 and a 12-month high of $12.51.

908 Devices (NASDAQ:MASS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.02. The business had revenue of $14.05 million during the quarter, compared to analyst estimates of $13.69 million. 908 Devices had a negative net margin of 72.10% and a negative return on equity of 22.47%. As a group, analysts forecast that 908 Devices will post -1.21 EPS for the current fiscal year.

Hedge Funds Weigh In On 908 Devices

A number of institutional investors have recently modified their holdings of the company. Millennium Management LLC raised its stake in 908 Devices by 35.5% during the second quarter. Millennium Management LLC now owns 618,310 shares of the company’s stock worth $3,184,000 after purchasing an additional 161,922 shares during the period. Vanguard Group Inc. raised its stake in 908 Devices by 0.4% during the first quarter. Vanguard Group Inc. now owns 1,751,102 shares of the company’s stock worth $13,221,000 after purchasing an additional 6,772 shares during the period. American Century Companies Inc. raised its stake in 908 Devices by 18.6% during the second quarter. American Century Companies Inc. now owns 33,718 shares of the company’s stock worth $174,000 after purchasing an additional 5,295 shares during the period. GAMMA Investing LLC purchased a new position in 908 Devices during the second quarter worth approximately $48,000. Finally, Squarepoint Ops LLC purchased a new position in 908 Devices during the second quarter worth approximately $250,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

About 908 Devices

908 Devices Inc, a commercial-stage technology company, provides various purpose-built handheld and desktop mass spectrometry devices to interrogate unknown and invisible materials in life sciences research, bioprocessing, pharma/biopharma, forensics, and adjacent markets. The company's products include MX908, a handheld, battery-powered, and Mass Spec device that is designed for rapid analysis of solid, liquid, vapor, and aerosol materials of unknown identity; Rebel, a small desktop analyzer that provides real-time information on the extracellular environment in bioprocesses; and Maverick, an optical in-line analyzer that offers real-time monitoring and control of multiple bioprocess parameters, including glucose, lactate, and total biomass in mammalian cell cultures, as well as provides process fingerprint data to support large-scale efforts in predictive bioprocess modeling.