Zacks Investment Research Upgrades NanoString Technologies Inc (NSTG) to Hold
NanoString Technologies Inc (NASDAQ:NSTG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
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. “
Separately, Morgan Stanley lowered shares of NanoString Technologies from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $23.00 to $20.00 in a report on Thursday, April 20th.
Shares of NanoString Technologies (NASDAQ:NSTG) traded up 0.48% during trading on Wednesday, reaching $18.92. 78,803 shares of the company were exchanged. The firm has a 50-day moving average price of $18.74 and a 200-day moving average price of $19.85. The stock’s market capitalization is $410.37 million. NanoString Technologies has a 1-year low of $11.89 and a 1-year high of $23.45.
NanoString Technologies (NASDAQ:NSTG) last issued its quarterly earnings results on Thursday, May 4th. The biotechnology company reported ($0.87) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.87). NanoString Technologies had a negative net margin of 53.02% and a negative return on equity of 784.63%. The company had revenue of $18.10 million during the quarter, compared to analysts’ expectations of $17.53 million. During the same quarter last year, the company posted ($0.74) EPS. The firm’s revenue was up 23.1% compared to the same quarter last year. Equities research analysts predict that NanoString Technologies will post ($2.64) earnings per share for the current fiscal year.
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Several large investors have recently made changes to their positions in NSTG. American International Group Inc. raised its stake in shares of NanoString Technologies by 7.4% in the first quarter. American International Group Inc. now owns 9,153 shares of the biotechnology company’s stock worth $182,000 after buying an additional 634 shares during the last quarter. Strs Ohio raised its stake in shares of NanoString Technologies by 4.2% in the first quarter. Strs Ohio now owns 32,600 shares of the biotechnology company’s stock worth $647,000 after buying an additional 1,300 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of NanoString Technologies by 7.1% in the fourth quarter. Teachers Advisors LLC now owns 23,597 shares of the biotechnology company’s stock worth $526,000 after buying an additional 1,557 shares during the last quarter. Apriem Advisors purchased a new stake in shares of NanoString Technologies during the third quarter worth $120,000. Finally, Columbus Circle Investors raised its stake in shares of NanoString Technologies by 27.1% in the first quarter. Columbus Circle Investors now owns 31,181 shares of the biotechnology company’s stock worth $620,000 after buying an additional 6,649 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.
NanoString Technologies Company Profile
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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