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

908 Devices (NASDAQ:MASS) had its target price reduced by equities researchers at Leerink Partners from $15.00 to $12.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Leerink Partners’ target price would indicate a potential upside of 253.98% from the stock’s previous close.

908 Devices Stock Down 4.0 %

MASS traded down $0.14 during trading on Thursday, hitting $3.39. The company’s stock had a trading volume of 29,565 shares, compared to its average volume of 197,146. The firm has a market capitalization of $116.90 million, a P/E ratio of -3.17 and a beta of 0.97. 908 Devices has a twelve month low of $3.24 and a twelve month high of $12.51. The stock’s fifty day moving average price is $3.76 and its 200-day moving average price is $5.08.

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

Institutional Investors Weigh In On 908 Devices

A number of hedge funds have recently added to or reduced their stakes in MASS. GAMMA Investing LLC bought a new position in shares of 908 Devices in the 2nd quarter worth $48,000. SG Americas Securities LLC bought a new position in shares of 908 Devices in the third quarter valued at $36,000. State Board of Administration of Florida Retirement System bought a new position in shares of 908 Devices in the first quarter valued at $80,000. American Century Companies Inc. grew its holdings in shares of 908 Devices by 18.6% during the second quarter. American Century Companies Inc. now owns 33,718 shares of the company’s stock valued at $174,000 after buying an additional 5,295 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of 908 Devices during the second quarter worth about $229,000. 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.