NanoString Technologies Inc (NSTG) Expected to Announce Quarterly Sales of $30.32 Million

Wall Street brokerages expect NanoString Technologies Inc (NASDAQ:NSTG) to report sales of $30.32 million for the current quarter, according to Zacks. Three analysts have provided estimates for NanoString Technologies’ earnings, with the highest sales estimate coming in at $31.38 million and the lowest estimate coming in at $29.30 million. NanoString Technologies reported sales of $25.23 million in the same quarter last year, which indicates a positive year over year growth rate of 20.2%. The company is expected to report its next earnings results on Wednesday, March 7th.

According to Zacks, 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 $114.55 million. For the next year, analysts expect that the firm will post sales of $112.49 million per share, with estimates ranging from $105.00 million to $123.41 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for NanoString Technologies.

NSTG has been the subject of a number of research reports. Zacks Investment Research cut NanoString Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. ValuEngine cut NanoString Technologies from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Finally, Robert W. Baird reduced their price objective on NanoString Technologies from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. NanoString Technologies presently has an average rating of “Hold” and a consensus target price of $15.06.

Shares of NanoString Technologies (NASDAQ NSTG) opened at $6.65 on Wednesday. The company has a market capitalization of $170.57, a price-to-earnings ratio of -3.23 and a beta of 0.78. The company has a quick ratio of 2.89, a current ratio of 3.35 and a debt-to-equity ratio of 1.08. NanoString Technologies has a 12-month low of $6.31 and a 12-month high of $20.70.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. acquired a new stake in NanoString Technologies during the second quarter valued at $261,000. Nationwide Fund Advisors boosted its position in NanoString Technologies by 368.4% during the second quarter. Nationwide Fund Advisors now owns 41,098 shares of the biotechnology company’s stock valued at $680,000 after purchasing an additional 32,323 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its position in NanoString Technologies by 135.6% during the third quarter. Candriam Luxembourg S.C.A. now owns 106,000 shares of the biotechnology company’s stock valued at $1,713,000 after purchasing an additional 61,000 shares during the last quarter. Bank of New York Mellon Corp boosted its position in NanoString Technologies by 45.7% during the third quarter. Bank of New York Mellon Corp now owns 101,884 shares of the biotechnology company’s stock valued at $1,646,000 after purchasing an additional 31,957 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in NanoString Technologies by 51.0% during the third quarter. Schwab Charles Investment Management Inc. now owns 36,400 shares of the biotechnology company’s stock valued at $589,000 after purchasing an additional 12,300 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

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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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