NanoString Technologies (NASDAQ:NSTG) Cut 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 note issued to investors on Thursday, January 11th.

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 issued reports on the company. Cowen restated a “buy” rating and issued a $20.00 price target on shares of NanoString Technologies in a research report on Thursday, September 28th. Robert W. Baird reduced their price target on NanoString Technologies from $23.00 to $19.00 and set an “outperform” rating on the stock in a research report on Thursday, October 12th. Finally, Janney Montgomery Scott lowered NanoString Technologies from a “buy” rating to a “neutral” rating in a research report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. NanoString Technologies currently has an average rating of “Hold” and an average price target of $15.06.

NanoString Technologies (NSTG) opened at $8.33 on Thursday. The company has a market capitalization of $207.12, a price-to-earnings ratio of -4.02 and a beta of 0.82. The company has a debt-to-equity ratio of 1.08, a current ratio of 3.35 and a quick ratio of 2.89. NanoString Technologies has a 12-month low of $7.03 and a 12-month high of $20.70.

NanoString Technologies (NASDAQ:NSTG) last announced its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.45) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.56) by $0.11. The firm had revenue of $27.02 million for the quarter, compared to analyst estimates of $26.27 million. NanoString Technologies had a negative return on equity of 174.55% and a negative net margin of 44.24%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company earned ($0.51) EPS. equities research analysts predict that NanoString Technologies will post -1.81 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of NSTG. Neuberger Berman Group LLC bought a new position in NanoString Technologies during the third quarter worth about $9,677,000. Vanguard Group Inc. lifted its holdings in NanoString Technologies by 27.9% during the second quarter. Vanguard Group Inc. now owns 752,699 shares of the biotechnology company’s stock worth $12,449,000 after acquiring an additional 164,141 shares in the last quarter. Algert Global LLC bought a new position in NanoString Technologies during the third quarter worth about $2,276,000. Ark Investment Management LLC lifted its holdings in NanoString Technologies by 248.2% during the second quarter. Ark Investment Management LLC now owns 110,510 shares of the biotechnology company’s stock worth $1,828,000 after acquiring an additional 78,769 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its holdings in NanoString Technologies by 135.6% during the third quarter. Candriam Luxembourg S.C.A. now owns 106,000 shares of the biotechnology company’s stock worth $1,713,000 after acquiring an additional 61,000 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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