Brokerages Expect NanoString Technologies, Inc. (NSTG) to Post -$0.57 Earnings Per Share
Wall Street analysts expect NanoString Technologies, Inc. (NASDAQ:NSTG) to announce earnings of ($0.57) per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for NanoString Technologies’ earnings, with the highest EPS estimate coming in at ($0.48) and the lowest estimate coming in at ($0.67). NanoString Technologies posted earnings per share of ($0.51) in the same quarter last year, which would indicate a negative year-over-year growth rate of 11.8%. The company is scheduled to issue its next earnings report after the market closes on Thursday, November 2nd.
On average, analysts expect that NanoString Technologies will report full-year earnings of ($2.26) per share for the current financial year, with EPS estimates ranging from ($2.39) to ($2.12). For the next fiscal year, analysts anticipate that the company will post earnings of ($2.60) per share, with EPS estimates ranging from ($3.04) to ($2.30). Zacks’ EPS averages are a mean average based on a survey of research analysts 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) 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 company had revenue of $34.59 million for the quarter, compared to the consensus estimate of $29.87 million.
A number of brokerages have recently commented on NSTG. ValuEngine raised NanoString Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Zacks Investment Research raised NanoString Technologies from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Wednesday, July 5th. Cowen and Company reaffirmed a “buy” rating and issued a $20.00 price objective on shares of NanoString Technologies in a research note on Thursday, September 28th. BidaskClub lowered NanoString Technologies from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Finally, Janney Montgomery Scott lowered NanoString Technologies from a “buy” rating to a “neutral” rating in a research note on Thursday, October 12th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. NanoString Technologies presently has an average rating of “Hold” and a consensus price target of $17.75.
Several large investors have recently made changes to their positions in NSTG. Bank of Montreal Can boosted its position in shares of NanoString Technologies by 3,731.4% during the second quarter. Bank of Montreal Can now owns 9,387 shares of the biotechnology company’s stock valued at $156,000 after buying an additional 9,142 shares during the last quarter. American International Group Inc. boosted its position in shares of NanoString Technologies by 7.4% during the first quarter. American International Group Inc. now owns 9,153 shares of the biotechnology company’s stock valued at $182,000 after buying an additional 634 shares during the last quarter. Bank of America Corp DE boosted its position in shares of NanoString Technologies by 16.6% during the first quarter. Bank of America Corp DE now owns 11,404 shares of the biotechnology company’s stock valued at $227,000 after buying an additional 1,627 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of NanoString Technologies by 25.2% during the second quarter. The Manufacturers Life Insurance Company now owns 15,542 shares of the biotechnology company’s stock valued at $257,000 after buying an additional 3,132 shares during the last quarter. Finally, Alliancebernstein L.P. purchased a new position in shares of NanoString Technologies during the second quarter valued at approximately $261,000. 93.01% of the stock is currently owned by institutional investors.
Shares of NanoString Technologies (NSTG) traded down 1.51% during mid-day trading on Friday, reaching $9.77. The company’s stock had a trading volume of 237,097 shares. NanoString Technologies has a 12 month low of $9.05 and a 12 month high of $23.45. The firm’s market cap is $246.24 million. The company has a 50-day moving average of $14.04 and a 200-day moving average of $15.84.
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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