Analysts Anticipate NanoString Technologies, Inc. (NASDAQ:NSTG) to Announce -$0.64 Earnings Per Share
Brokerages forecast that NanoString Technologies, Inc. (NASDAQ:NSTG) will post earnings of ($0.64) per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for NanoString Technologies’ earnings, with the lowest EPS estimate coming in at ($0.68) and the highest estimate coming in at ($0.60). NanoString Technologies posted earnings of ($0.55) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 16.4%. The firm is scheduled to report its next earnings report after the market closes on Tuesday, August 8th.
According to Zacks, analysts expect that NanoString Technologies will report full year earnings of ($2.63) per share for the current year, with EPS estimates ranging from ($2.67) to ($2.60). For the next year, analysts forecast that the firm will report earnings of ($2.20) per share, with EPS estimates ranging from ($2.25) to ($2.14). Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for NanoString Technologies.
NanoString Technologies (NASDAQ:NSTG) last issued its earnings results on Thursday, May 4th. The biotechnology company reported ($0.87) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.87). NanoString Technologies had a negative net margin of 57.13% and a negative return on equity of 6,777.29%. The business had revenue of $18.10 million during the quarter, compared to the consensus estimate of $17.53 million. During the same period last year, the business posted ($0.74) EPS. NanoString Technologies’s revenue was up 23.1% on a year-over-year basis.
NSTG has been the topic of several analyst reports. Zacks Investment Research upgraded shares of NanoString Technologies from a “sell” rating to a “hold” rating in a report on Tuesday. ValuEngine upgraded shares of NanoString Technologies from a “sell” rating to a “hold” rating in a report on Saturday, July 1st. Morgan Stanley cut shares of NanoString Technologies from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $23.00 to $20.00 in a research note on Thursday, April 20th. BidaskClub cut shares of NanoString Technologies from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Finally, Cowen and Company reiterated a “buy” rating on shares of NanoString Technologies in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $19.67.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NSTG. Endurant Capital Management LP bought a new position in NanoString Technologies during the first quarter worth $1,755,000. State Street Corp boosted its position in NanoString Technologies by 16.7% in the fourth quarter. State Street Corp now owns 223,065 shares of the biotechnology company’s stock worth $4,977,000 after buying an additional 31,911 shares during the last quarter. Teachers Advisors LLC boosted its position in 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. Renaissance Technologies LLC boosted its position in NanoString Technologies by 111.3% in the fourth quarter. Renaissance Technologies LLC now owns 240,200 shares of the biotechnology company’s stock worth $5,356,000 after buying an additional 126,500 shares during the last quarter. Finally, Eagle Global Advisors LLC bought a new position in NanoString Technologies during the first quarter worth $360,000. Hedge funds and other institutional investors own 87.09% of the company’s stock.
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Shares of NanoString Technologies (NASDAQ NSTG) traded down 1.01% during midday trading on Thursday, reaching $15.62. 87,536 shares of the company traded hands. The firm’s market capitalization is $338.80 million. NanoString Technologies has a 12-month low of $13.06 and a 12-month high of $23.45. The company has a 50-day moving average of $16.03 and a 200 day moving average of $17.94.
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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