NanoString Technologies, Inc. (NASDAQ:NSTG) Given Consensus Recommendation of “Buy” by Brokerages

NanoString Technologies, Inc. (NASDAQ:NSTGGet Rating) has earned an average recommendation of “Hold” from the nine brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $48.13.

A number of analysts have weighed in on NSTG shares. JPMorgan Chase & Co. reduced their target price on NanoString Technologies from $85.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 2nd. Zacks Investment Research upgraded NanoString Technologies from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Saturday, March 5th. Cowen cut their price target on NanoString Technologies from $65.00 to $50.00 in a research note on Wednesday, April 13th. Canaccord Genuity Group dropped their price objective on NanoString Technologies from $50.00 to $37.00 in a research report on Wednesday, April 13th. Finally, StockNews.com began coverage on NanoString Technologies in a research report on Thursday, March 31st. They set a “sell” rating on the stock.

NASDAQ NSTG opened at $22.11 on Monday. The company has a current ratio of 8.20, a quick ratio of 7.60 and a debt-to-equity ratio of 1.27. NanoString Technologies has a one year low of $20.80 and a one year high of $81.89. The stock has a 50 day moving average price of $33.33 and a 200-day moving average price of $38.45.

NanoString Technologies (NASDAQ:NSTGGet Rating) last released its quarterly earnings results on Tuesday, March 1st. The biotechnology company reported ($0.64) earnings per share 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 analysts’ expectations of $41.90 million. During the same quarter in the previous year, the company posted ($0.53) EPS. The business’s quarterly revenue was up 17.1% on a year-over-year basis. On average, sell-side analysts predict that NanoString Technologies will post -2.11 earnings per share for the current fiscal year.

In other NanoString Technologies news, CEO R Bradley Gray sold 9,667 shares of the business’s stock in a transaction on Tuesday, March 8th. The stock was sold at an average price of $33.06, for a total transaction of $319,591.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Joseph M. Beechem sold 2,968 shares of the company’s stock in a transaction on Tuesday, March 8th. The shares were 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 have sold 33,864 shares of company stock valued at $1,054,146. 2.80% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Pinebridge Investments L.P. purchased a new stake in NanoString Technologies during the 4th quarter worth about $30,000. Dark Forest Capital Management LP increased its holdings in NanoString Technologies by 102.7% during the 3rd quarter. Dark Forest Capital Management LP now owns 1,267 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 642 shares during the period. Point72 Hong Kong Ltd increased its holdings in NanoString Technologies by 449.7% during the 3rd quarter. Point72 Hong Kong Ltd now owns 1,979 shares of the biotechnology company’s stock worth $95,000 after purchasing an additional 1,619 shares during the period. Advisor Group Holdings Inc. increased its holdings in NanoString Technologies by 15.0% during the 4th quarter. Advisor Group Holdings Inc. now owns 3,795 shares of the biotechnology company’s stock worth $160,000 after purchasing an additional 496 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in NanoString Technologies by 33.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,400 shares of the biotechnology company’s stock worth $211,000 after purchasing an additional 1,107 shares during the period.

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.

See Also

Analyst Recommendations for NanoString Technologies (NASDAQ:NSTG)

Receive News & Ratings for NanoString Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NanoString Technologies and related companies with MarketBeat.com's FREE daily email newsletter.