Zacks: Analysts Expect NanoString Technologies, Inc. (NASDAQ:NSTG) Will Post Quarterly Sales of $35.42 Million

Wall Street brokerages forecast that NanoString Technologies, Inc. (NASDAQ:NSTG – Get Rating) will announce sales of $35.42 million for the current quarter, Zacks reports. Three analysts have issued estimates for NanoString Technologies’ earnings, with the highest sales estimate coming in at $41.66 million and the lowest estimate coming in at $32.10 million. NanoString Technologies posted sales of $33.86 million in the same quarter last year, which suggests a positive year-over-year growth rate of 4.6%. The firm is expected to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that NanoString Technologies will report full year sales of $155.31 million for the current financial year, with estimates ranging from $151.99 million to $157.35 million. For the next fiscal year, analysts expect that the company will post sales of $233.56 million, with estimates ranging from $226.90 million to $239.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover NanoString Technologies.

NanoString Technologies (NASDAQ:NSTG – Get Rating) last announced its quarterly earnings results on Tuesday, May 10th. The biotechnology company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.33). NanoString Technologies had a negative net margin of 87.89% and a negative return on equity of 68.57%. The firm had revenue of $31.08 million for the quarter, compared to analyst estimates of $30.95 million. During the same quarter in the prior year, the firm earned ($0.62) earnings per share. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year.

Several brokerages have commented on NSTG. JPMorgan Chase & Co. dropped their price target 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. Robert W. Baird lowered their price objective on NanoString Technologies from $35.00 to $30.00 in a research report on Wednesday, May 11th. Cowen lowered their price objective on NanoString Technologies from $65.00 to $50.00 in a research report on Wednesday, April 13th. Cowen lowered their price objective on NanoString Technologies from $65.00 to $50.00 in a research report on Wednesday, April 13th. Finally, StockNews.com started coverage on NanoString Technologies in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $45.00.

Shares of NASDAQ NSTG opened at $15.20 on Wednesday. The company has a quick ratio of 7.11, a current ratio of 7.81 and a debt-to-equity ratio of 1.55. The business’s 50 day moving average is $25.92 and its two-hundred day moving average is $34.28. The company has a market cap of $705.52 million, a P/E ratio of -5.45 and a beta of 1.98. NanoString Technologies has a 12 month low of $13.52 and a 12 month high of $70.40.

In other NanoString Technologies news, CFO K Thomas Bailey sold 5,000 shares of the stock in a transaction dated Thursday, March 10th. The stock was sold at an average price of $33.81, for a total value of $169,050.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO R Bradley Gray sold 9,667 shares of the stock in a transaction dated Tuesday, March 8th. The stock was sold at an average price of $33.06, for a total value of $319,591.02. The disclosure for this sale can be found here. Insiders sold 33,864 shares of company stock worth $1,054,146 in the last three months. Insiders own 2.80% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in shares of NanoString Technologies by 0.7% during the third quarter. BlackRock Inc. now owns 4,448,719 shares of the biotechnology company’s stock worth $213,583,000 after buying an additional 31,220 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of NanoString Technologies by 106.7% during the third quarter. Wellington Management Group LLP now owns 4,273,970 shares of the biotechnology company’s stock worth $205,193,000 after buying an additional 2,206,252 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of NanoString Technologies by 10.1% during the fourth quarter. Marshall Wace LLP now owns 2,115,353 shares of the biotechnology company’s stock worth $89,331,000 after buying an additional 193,351 shares in the last quarter. Invesco Ltd. grew its holdings in shares of NanoString Technologies by 2.7% during the first quarter. Invesco Ltd. now owns 1,655,562 shares of the biotechnology company’s stock worth $57,531,000 after buying an additional 44,127 shares in the last quarter. Finally, Polar Capital Holdings Plc grew its holdings in shares of NanoString Technologies by 36.7% during the first quarter. Polar Capital Holdings Plc now owns 1,617,733 shares of the biotechnology company’s stock worth $56,216,000 after buying an additional 434,081 shares in the last quarter.

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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