NanoString Technologies, Inc. (NASDAQ:NSTG)‘s stock had its “buy” rating reissued by research analysts at Robert W. Baird in a research note issued to investors on Tuesday. They presently have a $14.00 price objective on the biotechnology company’s stock. Robert W. Baird’s target price suggests a potential upside of 52.01% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Cowen and Company restated a “buy” rating and issued a $20.00 target price on shares of NanoString Technologies in a report on Thursday, September 28th. Zacks Investment Research upgraded NanoString Technologies from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a report on Wednesday, July 5th. ValuEngine upgraded NanoString Technologies from a “sell” rating to a “hold” rating in a report on Saturday, July 1st. Janney Montgomery Scott lowered NanoString Technologies from a “buy” rating to a “neutral” rating in a report on Thursday, October 12th. Finally, BidaskClub lowered NanoString Technologies from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $17.75.

Shares of NanoString Technologies (NASDAQ:NSTG) traded down 5.83% during mid-day trading on Tuesday, reaching $9.21. 387,429 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $14.69 and a 200-day moving average price of $16.08. NanoString Technologies has a 1-year low of $9.19 and a 1-year high of $23.45. The company’s market capitalization is $232.13 million.

NanoString Technologies (NASDAQ:NSTG) last posted its earnings results on Tuesday, August 8th. The biotechnology company reported ($0.20) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.17. NanoString Technologies had a negative return on equity of 329.59% and a negative net margin of 44.28%. The firm had revenue of $34.59 million during the quarter, compared to analyst estimates of $29.87 million. On average, equities research analysts forecast that NanoString Technologies will post ($2.24) earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the business. American International Group Inc. increased its position in NanoString Technologies by 7.4% in the 1st 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 period. Bank of Montreal Can increased its position in NanoString Technologies by 3,731.4% in the 2nd quarter. Bank of Montreal Can now owns 9,387 shares of the biotechnology company’s stock worth $156,000 after buying an additional 9,142 shares during the period. Bank of America Corp DE increased its position in NanoString Technologies by 16.6% in the 1st quarter. Bank of America Corp DE now owns 11,404 shares of the biotechnology company’s stock worth $227,000 after buying an additional 1,627 shares during the period. The Manufacturers Life Insurance Company increased its position in NanoString Technologies by 25.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,542 shares of the biotechnology company’s stock worth $257,000 after buying an additional 3,132 shares during the period. Finally, Alliancebernstein L.P. bought a new position in NanoString Technologies in the 2nd quarter worth approximately $261,000. 93.01% of the stock is currently owned by institutional investors.

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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