NanoString Technologies, Inc. (NSTG) Expected to Post Quarterly Sales of $27.54 Million
Equities analysts expect NanoString Technologies, Inc. (NASDAQ:NSTG) to post $27.54 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for NanoString Technologies’ earnings, with the highest sales estimate coming in at $27.60 million and the lowest estimate coming in at $27.50 million. NanoString Technologies posted sales of $23.93 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 15.1%. The firm is scheduled to issue its next earnings report on Wednesday, November 1st.
On average, analysts expect that NanoString Technologies will report full year sales of $27.54 million for the current year, with estimates ranging from $114.00 million to $115.11 million. For the next financial year, analysts anticipate that the company will post sales of $132.54 million per share, with estimates ranging from $123.00 million to $144.51 million. Zacks Investment Research’s sales averages are a mean 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 Tuesday, August 8th. The biotechnology company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.17. The company had revenue of $34.59 million for the quarter, compared to the consensus estimate of $29.87 million. NanoString Technologies had a negative return on equity of 329.59% and a negative net margin of 44.28%.
A number of research firms have weighed in on NSTG. Zacks Investment Research upgraded NanoString Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, May 10th. ValuEngine upgraded NanoString Technologies from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub downgraded NanoString Technologies from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Finally, Cowen and Company restated a “buy” rating on shares of NanoString Technologies in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $18.50.
A number of hedge funds have recently bought and sold shares of NSTG. Bank of Montreal Can grew its stake in NanoString Technologies by 3,731.4% in the second quarter. Bank of Montreal Can now owns 9,387 shares of the biotechnology company’s stock valued at $156,000 after purchasing an additional 9,142 shares in the last quarter. American International Group Inc. grew its stake in NanoString Technologies by 7.4% in the first quarter. American International Group Inc. now owns 9,153 shares of the biotechnology company’s stock valued at $182,000 after purchasing an additional 634 shares in the last quarter. Bank of America Corp DE grew its stake in NanoString Technologies by 16.6% in the first quarter. Bank of America Corp DE now owns 11,404 shares of the biotechnology company’s stock valued at $227,000 after purchasing an additional 1,627 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in NanoString Technologies by 25.2% in the second quarter. The Manufacturers Life Insurance Company now owns 15,542 shares of the biotechnology company’s stock valued at $257,000 after purchasing an additional 3,132 shares in the last quarter. Finally, Alliancebernstein L.P. bought a new position in NanoString Technologies in the second quarter valued at approximately $261,000. Hedge funds and other institutional investors own 92.98% of the company’s stock.
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NanoString Technologies (NSTG) opened at 15.53 on Monday. The stock has a 50 day moving average price of $15.02 and a 200-day moving average price of $17.21. NanoString Technologies has a one year low of $13.17 and a one year high of $23.45. The firm’s market cap is $391.42 million.
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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