Zacks: Analysts Anticipate NanoString Technologies, Inc. (NASDAQ:NSTG) Will Post Earnings of -$0.67 Per Share

Brokerages forecast that NanoString Technologies, Inc. (NASDAQ:NSTGGet Rating) will report earnings of ($0.67) per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for NanoString Technologies’ earnings. The highest EPS estimate is ($0.59) and the lowest is ($0.76). NanoString Technologies posted earnings per share of ($0.60) in the same quarter last year, which suggests a negative year over year growth rate of 11.7%. The business is expected to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that NanoString Technologies will report full year earnings of ($2.64) per share for the current financial year, with EPS estimates ranging from ($2.98) to ($2.38). For the next year, analysts anticipate that the firm will post earnings of ($2.07) per share, with EPS estimates ranging from ($2.70) to ($1.66). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow NanoString Technologies.

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

A number of equities analysts have weighed in on the stock. Cowen decreased their price target on shares of NanoString Technologies from $65.00 to $50.00 in a report on Wednesday, April 13th. Robert W. Baird reduced their target price on NanoString Technologies from $35.00 to $30.00 in a report on Wednesday, May 11th. Zacks Investment Research lowered NanoString Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, May 12th. StockNews.com initiated coverage on NanoString Technologies in a report on Thursday, March 31st. They set a “sell” rating for the company. Finally, Cowen dropped their target price on shares of NanoString Technologies from $65.00 to $50.00 in a research report on Wednesday, April 13th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, NanoString Technologies presently has a consensus rating of “Hold” and a consensus target price of $45.00.

NanoString Technologies stock opened at $14.95 on Monday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 7.11 and a current ratio of 7.81. The company has a market cap of $693.92 million, a price-to-earnings ratio of -5.36 and a beta of 1.98. NanoString Technologies has a 1 year low of $13.52 and a 1 year high of $70.40. The firm has a 50 day moving average price of $25.53 and a 200 day moving average price of $34.15.

In other news, SVP Joseph M. Beechem sold 2,968 shares of NanoString Technologies 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO R Bradley Gray sold 8,625 shares of the business’s stock in a transaction on Tuesday, March 15th. The stock was sold at an average price of $27.81, for a total transaction of $239,861.25. The disclosure for this sale can be found here. Insiders sold 33,864 shares of company stock worth $1,054,146 over the last three months. 2.80% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Pinebridge Investments L.P. purchased a new position in NanoString Technologies in the fourth quarter valued at about $30,000. Dark Forest Capital Management LP raised its position in shares of NanoString Technologies by 102.7% in the 3rd quarter. Dark Forest Capital Management LP now owns 1,267 shares of the biotechnology company’s stock valued at $61,000 after purchasing an additional 642 shares in the last quarter. Point72 Hong Kong Ltd boosted its stake in shares of NanoString Technologies by 449.7% during the 3rd quarter. Point72 Hong Kong Ltd now owns 1,979 shares of the biotechnology company’s stock valued at $95,000 after buying an additional 1,619 shares during the last quarter. Advisor Group Holdings Inc. grew its position in shares of NanoString Technologies by 15.0% during the fourth quarter. Advisor Group Holdings Inc. now owns 3,795 shares of the biotechnology company’s stock worth $160,000 after buying an additional 496 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake 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 buying an additional 1,107 shares during 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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