Zacks Investment Research upgraded shares of NanoString Technologies (NASDAQ:NSTG) from a hold rating to a buy rating in a report published on Wednesday, January 3rd. The firm currently has $8.25 price objective on the biotechnology company’s stock.
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 equities analysts also recently commented on NSTG. Cowen reiterated a buy rating and set a $20.00 price target on shares of NanoString Technologies in a report on Thursday, September 28th. Janney Montgomery Scott downgraded shares of NanoString Technologies from a buy rating to a neutral rating in a research note on Thursday, October 12th. Finally, Robert W. Baird restated a buy rating and issued a $14.00 price objective on shares of NanoString Technologies in a research note on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $15.06.
NanoString Technologies (NSTG) traded up $0.15 during mid-day trading on Wednesday, reaching $8.34. 240,725 shares of the company’s stock were exchanged, compared to its average volume of 182,768. 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 has a 52 week low of $7.03 and a 52 week high of $20.70. The stock has a market capitalization of $205.35, a price-to-earnings ratio of -4.03 and a beta of 0.82.
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, topping analysts’ consensus estimates of ($0.56) by $0.11. The business had revenue of $27.02 million during the quarter, compared to analyst estimates of $26.27 million. NanoString Technologies had a negative net margin of 44.24% and a negative return on equity of 174.55%. The firm’s revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.51) earnings per share. analysts forecast that NanoString Technologies will post -1.77 EPS for the current year.
A number of hedge funds have recently made changes to their positions in NSTG. Algert Global LLC acquired a new position in shares of NanoString Technologies during the 3rd quarter worth about $2,276,000. Neuberger Berman Group LLC acquired a new position in shares of NanoString Technologies during the 3rd quarter worth about $9,677,000. Platinum Investment Management Ltd. lifted its holdings in shares of NanoString Technologies by 31.5% during the 3rd quarter. Platinum Investment Management Ltd. now owns 121,000 shares of the biotechnology company’s stock valued at $1,955,000 after purchasing an additional 29,000 shares in the last quarter. OxFORD Asset Management LLP lifted its holdings in shares of NanoString Technologies by 53.6% during the 3rd quarter. OxFORD Asset Management LLP now owns 50,734 shares of the biotechnology company’s stock valued at $819,000 after purchasing an additional 17,700 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of NanoString Technologies by 51.0% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 36,400 shares of the biotechnology company’s stock valued at $589,000 after purchasing an additional 12,300 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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