Brokerages Anticipate NanoString Technologies Inc (NSTG) Will Announce Earnings of -$0.48 Per Share

Wall Street brokerages expect NanoString Technologies Inc (NASDAQ:NSTG) to announce earnings per share (EPS) of ($0.48) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for NanoString Technologies’ earnings, with estimates ranging from ($0.66) to ($0.42). NanoString Technologies reported earnings of ($0.55) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.7%. The business is expected to report its next earnings results on Wednesday, March 7th.

According to Zacks, analysts expect that NanoString Technologies will report full year earnings of ($1.90) per share for the current fiscal year, with EPS estimates ranging from ($2.39) to ($1.27). For the next financial year, analysts forecast that the firm will post earnings of ($2.17) per share, with EPS estimates ranging from ($2.81) to ($1.06). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover NanoString Technologies.

NanoString Technologies (NASDAQ:NSTG) last posted its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.45) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.56) by $0.11. The business had revenue of $27.02 million during the quarter, compared to the consensus estimate of $26.27 million. NanoString Technologies had a negative return on equity of 174.55% and a negative net margin of 44.24%. The company’s revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.51) earnings per share.

NSTG has been the subject of several research analyst reports. Janney Montgomery Scott downgraded NanoString Technologies from a “buy” rating to a “neutral” rating in a report on Thursday, October 12th. Zacks Investment Research raised NanoString Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Robert W. Baird reissued a “buy” rating and issued a $14.00 price objective on shares of NanoString Technologies in a report on Tuesday, October 24th. Finally, Cowen downgraded NanoString Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $15.06.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Algert Global LLC acquired a new stake in shares of NanoString Technologies during the third quarter worth $2,276,000. Neuberger Berman Group LLC acquired a new stake in shares of NanoString Technologies during the third quarter worth $9,677,000. Platinum Investment Management Ltd. lifted its holdings in shares of NanoString Technologies by 31.5% during the third quarter. Platinum Investment Management Ltd. now owns 121,000 shares of the biotechnology company’s stock worth $1,955,000 after purchasing an additional 29,000 shares during the period. OxFORD Asset Management LLP lifted its holdings in shares of NanoString Technologies by 53.6% during the third quarter. OxFORD Asset Management LLP now owns 50,734 shares of the biotechnology company’s stock worth $819,000 after purchasing an additional 17,700 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of NanoString Technologies by 51.0% during the third quarter. Schwab Charles Investment Management Inc. now owns 36,400 shares of the biotechnology company’s stock worth $589,000 after purchasing an additional 12,300 shares during the period. 92.29% of the stock is owned by hedge funds and other institutional investors.

NanoString Technologies (NASDAQ NSTG) traded up $0.14 during mid-day trading on Tuesday, hitting $8.39. The stock had a trading volume of 260,200 shares, compared to its average volume of 177,940. The firm has a market capitalization of $209.41, a P/E ratio of -4.05 and a beta of 0.82. NanoString Technologies has a 1-year low of $7.03 and a 1-year high of $23.25. The company has a debt-to-equity ratio of 1.08, a current ratio of 3.35 and a quick ratio of 2.89.

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About NanoString Technologies

NanoString Technologies, Inc develops, manufactures and sells intuitive products that unlock scientifically valuable and clinically actionable biologic information from minute amounts of tissue. The Company is engaged in the development, manufacture and commercialization of instruments, consumables and services for profiling the activity of hundreds of genes and proteins simultaneously from a single tissue sample.

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