Brokerages Set NanoString Technologies, Inc. (NASDAQ:NSTG) PT at $33.43

Shares of NanoString Technologies, Inc. (NASDAQ:NSTGGet Rating) have been given an average rating of “Moderate Buy” by the eight brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $28.57.

A number of equities research analysts recently weighed in on the company. Morgan Stanley reduced their price objective on NanoString Technologies from $28.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Canaccord Genuity Group reduced their price target on NanoString Technologies from $30.00 to $14.00 in a research report on Thursday. Robert W. Baird reduced their price target on NanoString Technologies from $21.00 to $14.00 and set an “outperform” rating on the stock in a research report on Tuesday. Cowen reduced their price target on NanoString Technologies from $31.00 to $24.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, StockNews.com initiated coverage on NanoString Technologies in a research note on Wednesday, October 12th. They issued a “sell” rating on the stock.

Institutional Trading of NanoString Technologies

Large investors have recently modified their holdings of the business. Invesco Ltd. boosted its position in NanoString Technologies by 2.7% during the 1st quarter. Invesco Ltd. now owns 1,655,562 shares of the biotechnology company’s stock valued at $57,531,000 after acquiring an additional 44,127 shares in the last quarter. Polar Capital Holdings Plc boosted its position in NanoString Technologies by 36.7% during the 1st quarter. Polar Capital Holdings Plc now owns 1,617,733 shares of the biotechnology company’s stock valued at $56,216,000 after acquiring an additional 434,081 shares in the last quarter. Alyeska Investment Group L.P. boosted its position in NanoString Technologies by 26.2% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,443,432 shares of the biotechnology company’s stock valued at $50,159,000 after acquiring an additional 299,778 shares in the last quarter. State Street Corp boosted its position in NanoString Technologies by 4.5% during the 1st quarter. State Street Corp now owns 926,443 shares of the biotechnology company’s stock valued at $32,194,000 after acquiring an additional 40,245 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of NanoString Technologies by 71.5% during the second quarter. Goldman Sachs Group Inc. now owns 802,763 shares of the biotechnology company’s stock valued at $10,195,000 after purchasing an additional 334,794 shares during the last quarter.

NanoString Technologies Price Performance

NanoString Technologies stock opened at $7.32 on Tuesday. The stock has a market capitalization of $341.46 million, a P/E ratio of -2.33 and a beta of 1.69. NanoString Technologies has a 52 week low of $4.37 and a 52 week high of $50.12. The company has a debt-to-equity ratio of 2.00, a quick ratio of 6.04 and a current ratio of 6.84. The stock has a fifty day moving average of $11.92 and a 200-day moving average of $13.72.

NanoString Technologies Company Profile

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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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Analyst Recommendations for NanoString Technologies (NASDAQ:NSTG)

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