NanoString Technologies, Inc. (NSTG) Given Consensus Recommendation of “Hold” by Analysts
NanoString Technologies, Inc. (NASDAQ:NSTG) has been assigned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $16.00.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded NanoString Technologies from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Thursday, August 10th. Cowen restated a “buy” rating and set a $20.00 price target on shares of NanoString Technologies in a research report on Thursday, September 28th. Robert W. Baird dropped their price target on NanoString Technologies from $23.00 to $19.00 and set an “outperform” rating on the stock in a research report on Thursday, October 12th. Finally, Janney Montgomery Scott lowered NanoString Technologies from a “buy” rating to a “neutral” rating in a research report on Thursday, October 12th.
A number of large investors have recently made changes to their positions in NSTG. Vanguard Group Inc. raised its stake in shares of 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 purchasing an additional 164,141 shares during the last quarter. Neuberger Berman Group LLC bought a new stake in shares of NanoString Technologies in the third quarter worth $9,677,000. Russell Investments Group Ltd. grew its holdings in shares of 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 period. Spark Investment Management LLC grew its holdings in shares of NanoString Technologies by 27.8% in the second quarter. Spark Investment Management LLC now owns 330,200 shares of the biotechnology company’s stock worth $5,461,000 after acquiring an additional 71,900 shares during the period. Finally, State Street Corp grew its holdings in shares of NanoString Technologies by 13.4% in the second quarter. State Street Corp now owns 261,864 shares of the biotechnology company’s stock worth $4,332,000 after acquiring an additional 30,864 shares during the period. Institutional investors and hedge funds own 92.72% of the company’s stock.
NanoString Technologies (NASDAQ:NSTG) last posted its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.11. NanoString Technologies had a negative return on equity of 174.55% and a negative net margin of 44.24%. The company had revenue of $27.02 million during the quarter, compared to the consensus estimate of $26.27 million. During the same quarter in the prior year, the company earned ($0.51) EPS. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. equities analysts forecast that NanoString Technologies will post -1.77 EPS for the current fiscal year.
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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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