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

Shares of NanoString Technologies, Inc. (NASDAQ:NSTGGet Rating) have received an average rating of “Hold” from the eight ratings firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating and two have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $45.67.

NSTG has been the topic of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of NanoString Technologies from $85.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 2nd. Cowen decreased their target price on shares of NanoString Technologies from $65.00 to $50.00 in a report on Wednesday, April 13th. Cowen decreased their target price on shares of NanoString Technologies from $65.00 to $50.00 in a report on Wednesday, April 13th. Canaccord Genuity Group decreased their target price on shares of NanoString Technologies from $50.00 to $37.00 in a report on Wednesday, April 13th. Finally, Robert W. Baird decreased their target price on shares of NanoString Technologies from $35.00 to $30.00 in a report on Wednesday.

In other NanoString Technologies news, CFO K Thomas Bailey sold 2,110 shares of the company’s stock in a transaction that occurred on Tuesday, March 15th. The shares were sold at an average price of $27.81, for a total transaction of $58,679.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Joseph M. Beechem sold 2,968 shares of the company’s stock in a transaction that occurred on Tuesday, March 8th. The shares were sold at an average price of $33.06, for a total transaction of $98,122.08. The disclosure for this sale can be found here. Insiders have sold 33,864 shares of company stock valued at $1,054,146 over the last three months. 2.80% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Pinebridge Investments L.P. bought a new position in shares of NanoString Technologies in the fourth quarter worth approximately $30,000. Dark Forest Capital Management LP boosted its position in shares of NanoString Technologies by 102.7% in the third 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 boosted its position in shares of NanoString Technologies by 449.7% in the third 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. boosted its position in shares of NanoString Technologies by 15.0% in the fourth 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. boosted its position in shares of NanoString Technologies by 33.6% in the third 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.

NASDAQ:NSTG opened at $14.05 on Friday. NanoString Technologies has a one year low of $13.52 and a one year high of $70.40. The company has a debt-to-equity ratio of 1.27, a current ratio of 8.20 and a quick ratio of 7.60. The company’s 50-day simple moving average is $27.00 and its 200 day simple moving average is $35.06.

NanoString Technologies (NASDAQ:NSTGGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The biotechnology company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.33). NanoString Technologies had a negative return on equity of 63.97% and a negative net margin of 87.89%. The business had revenue of $31.08 million for the quarter, compared to the consensus estimate of $30.95 million. During the same period in the previous year, the firm earned ($0.62) EPS. The company’s revenue was down 1.7% on a year-over-year basis. On average, equities research analysts anticipate that NanoString Technologies will post -2.19 EPS for the current year.

About NanoString Technologies (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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