Robert W. Baird reaffirmed their buy rating on shares of NanoString Technologies, Inc. (NASDAQ:NSTG) in a report issued on Tuesday, October 24th. Robert W. Baird currently has a $14.00 target price on the biotechnology company’s stock.
Other analysts have also issued research reports about the company. Zacks Investment Research lowered NanoString Technologies from a hold rating to a sell rating in a research note on Tuesday, October 17th. Janney Montgomery Scott downgraded NanoString Technologies from a buy rating to a neutral rating in a report on Thursday, October 12th. Cowen and Company downgraded NanoString Technologies from an outperform rating to a market perform rating in a report on Thursday, October 12th. BidaskClub downgraded NanoString Technologies from a sell rating to a strong sell rating in a report on Friday, July 28th. Finally, ValuEngine downgraded NanoString Technologies from a hold rating to a sell rating in a report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $17.25.
Shares of NanoString Technologies (NASDAQ:NSTG) opened at $8.30 on Tuesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 3.74 and a current ratio of 3.35. NanoString Technologies has a one year low of $7.32 and a one year high of $23.45.
NanoString Technologies (NASDAQ:NSTG) last posted its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, beating the 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 net margin of 44.24% and a negative return on equity of 174.55%. NanoString Technologies’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.51) EPS. research analysts expect that NanoString Technologies will post -1.94 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of NanoString Technologies in the third quarter worth about $124,000. Bank of Montreal Can raised its stake in 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 valued at $156,000 after purchasing an additional 9,142 shares during the period. American International Group Inc. raised its stake in NanoString Technologies by 7.4% during the 1st quarter. American International Group Inc. now owns 9,153 shares of the biotechnology company’s stock valued at $182,000 after purchasing an additional 634 shares during the period. Trexquant Investment LP bought a new stake in NanoString Technologies during the 3rd quarter valued at approximately $203,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in NanoString Technologies in the 3rd quarter worth approximately $222,000. 93.04% of the stock is currently owned by hedge funds and other institutional investors.
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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