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Shares of Nanosphere (NASDAQ:NSPH) were the recipient of a large drop in short interest in August. As of August 15th, there was short interest totalling 1,241,557 shares, a drop of 63.1% from the July 31st total of 3,361,718 shares, AR Network reports. Based on an average daily volume of 1,201,406 shares, the short-interest ratio is currently 1.0 days. Approximately 2.0% of the shares of the stock are short sold.

Several analysts have recently commented on the stock. Analysts at Jefferies Group reiterated a “hold” rating on shares of Nanosphere in a research note on Thursday, August 7th. They now have a $1.00 price target on the stock, down previously from $2.50. Analysts at Craig Hallum downgraded shares of Nanosphere from a “buy” rating to a “hold” rating in a research note on Thursday, August 7th. They now have a $1.00 price target on the stock, down previously from $4.00.

Shares of Nanosphere (NASDAQ:NSPH) opened at 0.7888 on Wednesday. Nanosphere has a 52-week low of $0.78 and a 52-week high of $2.97. The stock’s 50-day moving average is $1.15 and its 200-day moving average is $1.6. The company’s market cap is $59.9 million.

Nanosphere (NASDAQ:NSPH) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.12) by $0.01. The company had revenue of $2.70 million for the quarter, compared to the consensus estimate of $3.90 million. On average, analysts predict that Nanosphere will post $-0.52 earnings per share for the current fiscal year.

Nanosphere, Inc develops, manufactures and markets a molecular diagnostics platform, the Verigene System.

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