NanoString Technologies, Inc. (NASDAQ:NSTG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, November 8th.
According to Zacks, “NanoString Technologies, Inc. is engaged in the development, manufacture and sale of life science tools. It provides nCounter Analysis System which supports research and development of clinical applications from basic discovery to the development of future molecular diagnostic tests on a single platform. The company also offers nSolver Analysis software, gene expression panels, miRNA expression assay kits, cancer copy number variation panels, nCounter leukemia fusion gene expression assay kits and human karyotype panels, custom CodeSets and master kits that are ancillary reagents, cartridges, tips and reagent plates to setup and process samples in its instruments. It markets its systems and related consumables to researchers in academic, government and biopharmaceutical laboratories primarily in North America, Europe, the Middle East and the Asia Pacific. NanoString Technologies, Inc. is headquartered in Seattle, Washington. “
Several other research analysts have also recently commented on NSTG. Robert W. Baird reduced their target price on NanoString Technologies from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, November 3rd. Cowen and Company reiterated a “buy” rating and issued a $20.00 price objective on shares of NanoString Technologies in a research report on Thursday, September 28th. ValuEngine cut NanoString Technologies from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. BidaskClub cut NanoString Technologies from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. Finally, Janney Montgomery Scott cut NanoString Technologies from a “buy” rating to a “neutral” rating in a report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. NanoString Technologies presently has an average rating of “Hold” and an average price target of $17.25.
Shares of NanoString Technologies (NSTG) traded down $0.09 on Wednesday, hitting $8.27. The stock had a trading volume of 111,000 shares, compared to its average volume of 208,042. NanoString Technologies has a one year low of $7.32 and a one year high of $23.43. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.89 and a current ratio of 3.35.
NanoString Technologies (NASDAQ:NSTG) last released its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.11. The firm had revenue of $27.02 million for 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 firm’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.51) earnings per share. sell-side analysts expect that NanoString Technologies will post -1.77 EPS for the current fiscal year.
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Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in NanoString Technologies in the 3rd quarter valued at $124,000. Bank of Montreal Can lifted its position in shares of NanoString Technologies by 3,731.4% during the 2nd quarter. Bank of Montreal Can now owns 9,387 shares of the biotechnology company’s stock worth $156,000 after buying an additional 9,142 shares during the last quarter. American International Group Inc. lifted its position in shares of NanoString Technologies by 7.4% during the 1st quarter. American International Group Inc. now owns 9,153 shares of the biotechnology company’s stock worth $182,000 after buying an additional 634 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of NanoString Technologies during the 3rd quarter worth $203,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of NanoString Technologies during the 3rd quarter worth $222,000. 94.70% of the stock is currently owned by institutional investors and hedge funds.
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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