NanoString Technologies Inc (NASDAQ:NSTG) was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Thursday. They presently have a $20.00 target price on the biotechnology company’s stock, down from their prior target price of $23.00. Morgan Stanley’s target price would indicate a potential upside of 14.81% from the company’s current price.

Separately, Zacks Investment Research raised shares of NanoString Technologies from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Wednesday, January 4th.

NanoString Technologies (NASDAQ:NSTG) opened at 17.42 on Thursday. The firm has a 50-day moving average of $19.07 and a 200-day moving average of $20.13. NanoString Technologies has a one year low of $11.89 and a one year high of $23.45. The stock’s market capitalization is $377.14 million.

This article was originally published by and is the sole property of American Banking News. If you happen to be reading this article on another website, it was stolen and illegally republished in violation of U.S. and International copyright law. The original version of this story can be read at https://www.americanbankingnews.com/2017/04/20/nanostring-technologies-inc-nstg-rating-lowered-to-equal-weight-at-morgan-stanley.html

NanoString Technologies (NASDAQ:NSTG) last released its earnings results on Wednesday, March 1st. The biotechnology company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.52) by $0.03. The firm earned $25.23 million during the quarter, compared to analysts’ expectations of $24.90 million. NanoString Technologies had a negative return on equity of 784.63% and a negative net margin of 53.02%. The business’s revenue was up 13.1% on a year-over-year basis. During the same period last year, the business earned ($0.44) earnings per share. On average, equities research analysts forecast that NanoString Technologies will post ($2.66) earnings per share for the current year.

WARNING: “NanoString Technologies Inc (NSTG) Downgraded by Morgan Stanley to “Equal Weight”” was reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another publication, it was illegally stolen and republished in violation of US & international trademark and copyright law. The correct version of this article can be viewed at https://www.americanbankingnews.com/2017/04/20/nanostring-technologies-inc-nstg-rating-lowered-to-equal-weight-at-morgan-stanley.html.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Apriem Advisors bought a new position in shares of NanoString Technologies during the third quarter worth approximately $120,000. Trexquant Investment LP acquired a new stake in NanoString Technologies during the fourth quarter valued at approximately $268,000. Cetera Advisor Networks LLC acquired a new stake in NanoString Technologies during the third quarter valued at approximately $355,000. ARK Investment Management LLC acquired a new stake in NanoString Technologies during the fourth quarter valued at approximately $376,000. Finally, A.R.T. Advisors LLC acquired a new stake in NanoString Technologies during the fourth quarter valued at approximately $408,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

NanoString Technologies Company Profile

NanoString Technologies, Inc develops and manufactures intuitive products that unlock scientifically valuable and clinically actionable biologic information from minute amounts of tissue. The Company operates in the segment of 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.

5 Day Chart for NASDAQ:NSTG

Receive News & Ratings for NanoString Technologies Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NanoString Technologies Inc and related companies with MarketBeat.com's FREE daily email newsletter.