NanoString Technologies (NASDAQ:NSTG) Stock Rating Lowered by 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, Zacks.com reports.

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 reduced their price target on NanoString Technologies from $75.00 to $65.00 and set an “outperform” rating for the company in a research note on Thursday, October 14th. Robert W. Baird reduced their price target on NanoString Technologies from $71.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, November 10th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $62.40.

Shares of NASDAQ NSTG opened at $35.88 on Thursday. The company has a current ratio of 10.03, a quick ratio of 9.33 and a debt-to-equity ratio of 1.13. NanoString Technologies has a 12 month low of $32.72 and a 12 month high of $86.42. The stock has a 50 day moving average of $40.97 and a 200-day moving average of $49.93. The company has a market capitalization of $1.64 billion, a P/E ratio of -14.70 and a beta of 1.73.

NanoString Technologies (NASDAQ:NSTG) last issued its earnings results on Tuesday, November 9th. The biotechnology company reported ($0.69) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by ($0.16). NanoString Technologies had a negative return on equity of 45.31% and a negative net margin of 78.48%. The business had revenue of $37.15 million for the quarter, compared to the consensus estimate of $37.35 million. During the same quarter in the prior year, the firm posted ($0.56) earnings per share. Analysts predict that NanoString Technologies will post -2.48 EPS for the current fiscal year.

In other NanoString Technologies news, CEO R Bradley Gray sold 25,000 shares of NanoString Technologies stock in a transaction on Wednesday, November 10th. The stock was sold at an average price of $46.29, for a total value of $1,157,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO K Thomas Bailey sold 7,843 shares of NanoString Technologies stock in a transaction on Wednesday, November 17th. The shares were sold at an average price of $46.74, for a total value of $366,581.82. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in NSTG. Dark Forest Capital Management LP acquired a new position in shares of NanoString Technologies during the 2nd quarter worth $40,000. Maverick Capital Ltd. raised its holdings in shares of NanoString Technologies by 425.7% during the 2nd quarter. Maverick Capital Ltd. now owns 1,656 shares of the biotechnology company’s stock worth $107,000 after buying an additional 1,341 shares in the last quarter. Point72 Hong Kong Ltd raised its holdings in shares of NanoString Technologies by 449.7% during the 3rd quarter. Point72 Hong Kong Ltd now owns 1,979 shares of the biotechnology company’s stock worth $95,000 after buying an additional 1,619 shares in the last quarter. Advisor Group Holdings Inc. raised its holdings in shares of NanoString Technologies by 25.6% during the 2nd quarter. Advisor Group Holdings Inc. now owns 3,211 shares of the biotechnology company’s stock worth $208,000 after buying an additional 654 shares in the last quarter. Finally, Brighton Jones LLC acquired a new position in shares of NanoString Technologies during the 2nd quarter worth $237,000.

NanoString Technologies Company Profile

NanoString Technologies, Inc engages in the development and commercialization of instruments and services for profiling of genes and proteins from tissue sample. It offers the GeoMx Digital Spatial Profiler and nCounter Analysis System product platforms, both of which include instruments, related consumables, and software.

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