$30.32 Million in Sales Expected for NanoString Technologies Inc (NSTG) This Quarter

Wall Street brokerages expect that NanoString Technologies Inc (NASDAQ:NSTG) will report $30.32 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for NanoString Technologies’ earnings. The lowest sales estimate is $29.30 million and the highest is $31.38 million. NanoString Technologies reported sales of $25.23 million during the same quarter last year, which indicates a positive year over year growth rate of 20.2%. The business is expected to announce its next earnings report on Wednesday, March 7th.

On average, analysts expect that NanoString Technologies will report full year sales of $30.32 million for the current fiscal year, with estimates ranging from $109.00 million to $114.32 million. For the next financial year, analysts forecast that the business will report sales of $112.47 million per share, with estimates ranging from $105.00 million to $123.41 million. Zacks’ sales averages are an average based on a survey of research analysts that follow NanoString Technologies.

NanoString Technologies (NASDAQ:NSTG) last announced its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, beating 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 business had revenue of $27.02 million during the quarter, compared to the consensus estimate of $26.27 million. During the same quarter last year, the firm posted ($0.51) EPS. The company’s quarterly revenue was up 12.9% on a year-over-year basis.

NSTG has been the subject of a number of research reports. Robert W. Baird dropped their target price on NanoString Technologies from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. Zacks Investment Research downgraded NanoString Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Cowen reissued a “buy” rating and set a $20.00 target price on shares of NanoString Technologies in a report on Thursday, September 28th. Finally, Janney Montgomery Scott downgraded NanoString Technologies from a “buy” rating to a “neutral” rating in a report on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. NanoString Technologies has a consensus rating of “Hold” and a consensus target price of $15.06.

Several institutional investors and hedge funds have recently bought and sold shares of NSTG. Rhumbline Advisers lifted its holdings in shares of NanoString Technologies by 20.6% during the second quarter. Rhumbline Advisers now owns 21,332 shares of the biotechnology company’s stock worth $353,000 after buying an additional 3,640 shares in the last quarter. Alliancebernstein L.P. acquired a new stake in shares of NanoString Technologies during the second quarter worth $261,000. Teachers Advisors LLC lifted its holdings in shares of NanoString Technologies by 34.2% during the second quarter. Teachers Advisors LLC now owns 31,676 shares of the biotechnology company’s stock worth $524,000 after buying an additional 8,079 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in shares of NanoString Technologies by 7.7% during the second quarter. TIAA CREF Investment Management LLC now owns 70,742 shares of the biotechnology company’s stock worth $1,170,000 after buying an additional 5,068 shares in the last quarter. Finally, Nationwide Fund Advisors lifted its holdings in shares of NanoString Technologies by 368.4% during the second quarter. Nationwide Fund Advisors now owns 41,098 shares of the biotechnology company’s stock worth $680,000 after buying an additional 32,323 shares in the last quarter. 92.29% of the stock is owned by institutional investors.

Shares of NanoString Technologies (NSTG) opened at $8.19 on Thursday. NanoString Technologies has a twelve month low of $7.03 and a twelve month high of $20.70. The stock has a market capitalization of $205.35, a price-to-earnings ratio of -3.96 and a beta of 0.82. The company has a current ratio of 3.35, a quick ratio of 2.89 and a debt-to-equity ratio of 1.08.

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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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