NanoString Technologies, Inc. (NSTG) Announces Quarterly Earnings Results
NanoString Technologies, Inc. (NASDAQ:NSTG) announced its quarterly earnings data on Thursday. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.11, Briefing.com reports. The company had revenue of $27.02 million for the quarter, compared to analysts’ expectations of $26.27 million. NanoString Technologies had a negative net margin of 44.24% and a negative return on equity of 227.21%. NanoString Technologies’s revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.51) EPS. NanoString Technologies updated its FY17 guidance to ($1.99-1.86) EPS.
Shares of NanoString Technologies (NSTG) traded down $2.12 during midday trading on Friday, hitting $7.79. 1,240,311 shares of the company’s stock traded hands, compared to its average volume of 359,709.
Several equities analysts have issued reports on the stock. Zacks Investment Research raised shares of NanoString Technologies from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Thursday, August 10th. Cowen and Company cut shares of NanoString Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 12th. BidaskClub cut shares of NanoString Technologies from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Robert W. Baird dropped their price objective on shares of NanoString Technologies from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, ValuEngine cut shares of NanoString Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $17.25.
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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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