NanoString Technologies Inc (NSTG) Given Average Rating of “Hold” by Analysts

Shares of NanoString Technologies Inc (NASDAQ:NSTG) have earned an average rating of “Hold” from the seven analysts that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $16.00.

Several brokerages have recently weighed in on NSTG. Zacks Investment Research lowered NanoString Technologies from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Robert W. Baird cut their price objective on NanoString Technologies from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. Janney Montgomery Scott lowered NanoString Technologies from a “buy” rating to a “neutral” rating in a report on Thursday, October 12th. Finally, Cowen lowered NanoString Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, October 12th.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of NanoString Technologies by 27.9% during the second quarter. Vanguard Group Inc. now owns 752,699 shares of the biotechnology company’s stock valued at $12,449,000 after purchasing an additional 164,141 shares during the last quarter. Neuberger Berman Group LLC purchased a new stake in shares of NanoString Technologies during the third quarter valued at $9,677,000. State Street Corp lifted its holdings in shares of NanoString Technologies by 13.4% during the second quarter. State Street Corp now owns 261,864 shares of the biotechnology company’s stock valued at $4,332,000 after purchasing an additional 30,864 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of NanoString Technologies by 10.6% during the second quarter. Northern Trust Corp now owns 228,016 shares of the biotechnology company’s stock valued at $3,771,000 after purchasing an additional 21,791 shares during the last quarter. Finally, Penn Capital Management Co. Inc. lifted its holdings in shares of NanoString Technologies by 42.7% during the second quarter. Penn Capital Management Co. Inc. now owns 172,498 shares of the biotechnology company’s stock valued at $2,853,000 after purchasing an additional 51,620 shares during the last quarter. 92.29% of the stock is owned by institutional investors and hedge funds.

Shares of NanoString Technologies (NASDAQ NSTG) remained flat at $$8.33 during trading on Friday. 108,161 shares of the company’s stock traded hands, compared to its average volume of 135,403. The company has a debt-to-equity ratio of 1.08, a current ratio of 3.35 and a quick ratio of 2.89. The firm has a market cap of $211.44, a price-to-earnings ratio of -4.02 and a beta of 0.82. NanoString Technologies has a 12-month low of $7.03 and a 12-month high of $20.70.

NanoString Technologies (NASDAQ:NSTG) last announced its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.45) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.56) by $0.11. The business had revenue of $27.02 million during the quarter, compared to analyst estimates of $26.27 million. NanoString Technologies had a negative return on equity of 174.55% and a negative net margin of 44.24%. The company’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.51) earnings per share. research analysts expect that NanoString Technologies will post -1.81 earnings per share for the current fiscal year.

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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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