NanoString Technologies, Inc. (NSTG) Price Target Cut to $19.00
NanoString Technologies, Inc. (NASDAQ:NSTG) had its price target decreased by equities researchers at Robert W. Baird from $23.00 to $19.00 in a report issued on Thursday. The firm presently has an “outperform” rating on the biotechnology company’s stock. Robert W. Baird’s price objective suggests a potential upside of 68.14% from the company’s previous close.
NSTG has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of NanoString Technologies from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Wednesday, July 5th. Cowen and Company downgraded shares of NanoString Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday. BidaskClub downgraded shares of NanoString Technologies from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. ValuEngine downgraded shares of NanoString Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Finally, Janney Montgomery Scott downgraded shares of NanoString Technologies from a “buy” rating to a “neutral” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.00.
NanoString Technologies (NSTG) traded down 27.84% on Thursday, hitting $11.30. 2,303,317 shares of the company traded hands. The firm’s market capitalization is $284.81 million. The stock’s 50-day moving average is $15.64 and its 200 day moving average is $16.59. NanoString Technologies has a 12 month low of $9.56 and a 12 month high of $23.45.
NanoString Technologies (NASDAQ:NSTG) last posted its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.20) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.17. NanoString Technologies had a negative net margin of 44.28% and a negative return on equity of 329.59%. The business had revenue of $34.59 million during the quarter, compared to analyst estimates of $29.87 million. Equities analysts forecast that NanoString Technologies will post ($2.16) EPS for the current fiscal year.
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A number of institutional investors have recently modified their holdings of NSTG. Russell Investments Group Ltd. lifted its stake in NanoString Technologies by 1,452.0% in the second quarter. Russell Investments Group Ltd. now owns 538,792 shares of the biotechnology company’s stock worth $8,910,000 after acquiring an additional 504,075 shares during the last quarter. Morgan Stanley lifted its stake in NanoString Technologies by 15.2% in the first quarter. Morgan Stanley now owns 1,886,772 shares of the biotechnology company’s stock worth $37,490,000 after acquiring an additional 248,581 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in NanoString Technologies in the second quarter worth approximately $4,200,000. Vanguard Group Inc. lifted its stake in NanoString Technologies by 27.9% in the second quarter. Vanguard Group Inc. now owns 752,699 shares of the biotechnology company’s stock worth $12,449,000 after acquiring an additional 164,141 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in NanoString Technologies by 45.7% in the first quarter. Renaissance Technologies LLC now owns 350,000 shares of the biotechnology company’s stock worth $6,955,000 after acquiring an additional 109,800 shares during the last quarter. Institutional investors own 92.98% 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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