NanoString Technologies (NSTG) Lowered to Hold at Zacks Investment Research

NanoString Technologies (NASDAQ:NSTG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

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. “

NSTG has been the subject of several other reports. Cowen downgraded NanoString Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, October 12th. Robert W. Baird decreased their price target on NanoString Technologies from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. Finally, Janney Montgomery Scott downgraded NanoString Technologies from a “buy” rating to a “neutral” rating in a report on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. NanoString Technologies has a consensus rating of “Hold” and a consensus target price of $15.06.

Shares of NanoString Technologies (NASDAQ:NSTG) opened at $8.19 on Thursday. The firm has a market capitalization of $205.35, a P/E ratio of -3.96 and a beta of 0.82. NanoString Technologies has a fifty-two week low of $7.03 and a fifty-two week high of $20.70. The company has a quick ratio of 2.89, a current ratio of 3.35 and a debt-to-equity ratio of 1.08.

NanoString Technologies (NASDAQ:NSTG) last issued its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported ($0.45) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.56) by $0.11. NanoString Technologies had a negative return on equity of 174.55% and a negative net margin of 44.24%. The firm had revenue of $27.02 million during the quarter, compared to the consensus estimate of $26.27 million. During the same period last year, the company earned ($0.51) earnings per share. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. sell-side analysts predict that NanoString Technologies will post -1.77 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in NSTG. SG Americas Securities LLC purchased a new position in NanoString Technologies in the third quarter worth $124,000. Trexquant Investment LP purchased a new position in NanoString Technologies in the third quarter worth $203,000. Dynamic Technology Lab Private Ltd purchased a new position in NanoString Technologies in the third quarter worth $222,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in NanoString Technologies in the third quarter worth $240,000. Finally, The Manufacturers Life Insurance Company raised its position in NanoString Technologies by 25.2% in the second quarter. The Manufacturers Life Insurance Company now owns 15,542 shares of the biotechnology company’s stock worth $257,000 after acquiring an additional 3,132 shares in the last quarter. Hedge funds and other institutional investors own 92.29% of the company’s stock.

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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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