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

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

A number of research firms have recently commented on NSTG. ValuEngine cut NanoString Technologies from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Robert W. Baird reaffirmed a “buy” rating and set a $14.00 target price on shares of NanoString Technologies in a research note on Tuesday, October 24th. Finally, Zacks Investment Research raised NanoString Technologies from a “hold” rating to a “buy” rating and set a $8.25 price objective on the stock in a research note on Wednesday, January 3rd.

NanoString Technologies (NASDAQ NSTG) opened at $6.65 on Wednesday. The company has a market capitalization of $169.56, a P/E ratio of -3.21 and a beta of 0.78. NanoString Technologies has a 52 week low of $6.31 and a 52 week high of $20.70. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.89 and a current ratio of 3.35.

A number of large investors have recently made changes to their positions in NSTG. Alliancebernstein L.P. purchased a new stake in NanoString Technologies during the second quarter worth $261,000. Nationwide Fund Advisors lifted its holdings in 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 during the period. Candriam Luxembourg S.C.A. lifted its holdings 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 worth $1,713,000 after buying an additional 61,000 shares during the period. Bank of New York Mellon Corp lifted its holdings 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 worth $1,646,000 after buying an additional 31,957 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its holdings 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 worth $589,000 after buying an additional 12,300 shares during the period. 91.97% of the stock is currently owned by 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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