NanoString Technologies (NASDAQ:NSTG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage presently has a $8.25 target price on the biotechnology company’s stock. Zacks Investment Research‘s price target points to a potential upside of 5.77% from the company’s current price.
According to Zacks, “NanoString Technologies, Inc. is engaged in the development, manufacture and sale of life science tools. It provides nCounter Analysis System which supports research and development of clinical applications from basic discovery to the development of future molecular diagnostic tests on a single platform. The company also offers nSolver Analysis software, gene expression panels, miRNA expression assay kits, cancer copy number variation panels, nCounter leukemia fusion gene expression assay kits and human karyotype panels, custom CodeSets and master kits that are ancillary reagents, cartridges, tips and reagent plates to setup and process samples in its instruments. It markets its systems and related consumables to researchers in academic, government and biopharmaceutical laboratories primarily in North America, Europe, the Middle East and the Asia Pacific. NanoString Technologies, Inc. is headquartered in Seattle, Washington. “
A number of other research firms also recently issued reports on NSTG. Cowen reiterated a “buy” rating and issued a $20.00 target price on shares of NanoString Technologies in a research report on Thursday, September 28th. Janney Montgomery Scott downgraded shares of NanoString Technologies from a “buy” rating to a “neutral” rating in a research report on Thursday, October 12th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $14.00 target price on shares of NanoString Technologies in a research report on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $15.06.
NanoString Technologies (NASDAQ:NSTG) last released its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.11. NanoString Technologies had a negative net margin of 44.24% and a negative return on equity of 174.55%. 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 firm earned ($0.51) EPS. The company’s revenue was up 12.9% compared to the same quarter last year. sell-side analysts predict that NanoString Technologies will post -1.77 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in shares of NanoString Technologies during the 3rd quarter valued at $124,000. Bank of Montreal Can raised its holdings in shares of NanoString Technologies by 3,731.4% during the 2nd quarter. Bank of Montreal Can now owns 9,387 shares of the biotechnology company’s stock valued at $156,000 after purchasing an additional 9,142 shares in the last quarter. Trexquant Investment LP bought a new position in shares of NanoString Technologies during the 3rd quarter valued at $203,000. Dynamic Technology Lab Private Ltd bought a new position in shares of NanoString Technologies during the 3rd quarter valued at $222,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of NanoString Technologies during the 3rd quarter valued at $240,000. Institutional investors own 92.29% of the company’s stock.
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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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