NanoString Technologies (NASDAQ:NSTG) Price Target Cut to $35.00

NanoString Technologies (NASDAQ:NSTGGet Rating) had its price objective cut by investment analysts at Robert W. Baird from $51.00 to $35.00 in a research note issued on Wednesday, The Fly reports. Robert W. Baird’s target price points to a potential upside of 58.30% from the stock’s previous close.

A number of other research firms have also weighed in on NSTG. StockNews.com started coverage on NanoString Technologies in a research note on Thursday, March 31st. They issued a “sell” rating for the company. Canaccord Genuity Group began coverage on NanoString Technologies in a research note on Thursday, March 24th. They issued a “buy” rating and a $50.00 price objective for the company. Zacks Investment Research upgraded NanoString Technologies from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Saturday, March 5th. Finally, JPMorgan Chase & Co. decreased their target price on NanoString Technologies from $85.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $48.13.

Shares of NSTG opened at $22.11 on Wednesday. The company has a debt-to-equity ratio of 1.27, a current ratio of 8.20 and a quick ratio of 7.60. NanoString Technologies has a one year low of $20.80 and a one year high of $81.89. The firm has a market capitalization of $1.02 billion, a P/E ratio of -8.67 and a beta of 1.75. The business has a fifty day moving average of $33.61 and a 200 day moving average of $38.74.

NanoString Technologies (NASDAQ:NSTGGet Rating) last released its quarterly earnings results on Tuesday, March 1st. The biotechnology company reported ($0.64) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by ($0.09). NanoString Technologies had a negative net margin of 79.44% and a negative return on equity of 55.40%. The company had revenue of $42.46 million for the quarter, compared to the consensus estimate of $41.90 million. During the same period in the prior year, the firm posted ($0.53) EPS. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. Analysts expect that NanoString Technologies will post -2.11 EPS for the current fiscal year.

In other news, CFO K Thomas Bailey sold 2,110 shares of the stock in a transaction that occurred on Tuesday, March 15th. The stock was sold at an average price of $27.81, for a total value of $58,679.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Joseph M. Beechem sold 2,968 shares of the stock in a transaction that occurred on Tuesday, March 8th. The stock was sold at an average price of $33.06, for a total value of $98,122.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,864 shares of company stock worth $1,054,146. Company insiders own 2.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Arizona State Retirement System boosted its position in NanoString Technologies by 2.8% during the 3rd quarter. Arizona State Retirement System now owns 12,315 shares of the biotechnology company’s stock valued at $591,000 after acquiring an additional 337 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of NanoString Technologies by 3.2% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 13,050 shares of the biotechnology company’s stock valued at $530,000 after buying an additional 400 shares during the last quarter. First Republic Investment Management Inc. raised its stake in shares of NanoString Technologies by 1.7% during the 3rd quarter. First Republic Investment Management Inc. now owns 23,964 shares of the biotechnology company’s stock valued at $1,151,000 after buying an additional 409 shares during the last quarter. Advisor Group Holdings Inc. raised its stake in shares of NanoString Technologies by 15.0% during the 4th quarter. Advisor Group Holdings Inc. now owns 3,795 shares of the biotechnology company’s stock valued at $160,000 after buying an additional 496 shares during the last quarter. Finally, Green Alpha Advisors LLC raised its stake in shares of NanoString Technologies by 5.8% during the 4th quarter. Green Alpha Advisors LLC now owns 9,752 shares of the biotechnology company’s stock valued at $412,000 after buying an additional 538 shares during the last quarter.

NanoString Technologies Company Profile (Get Rating)

NanoString Technologies, Inc develops, manufactures, and sells tools for scientific and clinical research in the fields of genomics and proteomics in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system.

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