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

NanoString Technologies, Inc. (NASDAQ:NSTG – Get Rating) has been given an average rating of “Hold” by the eight research firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $45.67.

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price target 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. Canaccord Genuity Group decreased their price target on NanoString Technologies from $50.00 to $37.00 in a research note on Wednesday, April 13th. Cowen reduced their price objective on NanoString Technologies from $65.00 to $50.00 in a report on Wednesday, April 13th. Cowen reduced their price objective on NanoString Technologies from $65.00 to $50.00 in a report on Wednesday, April 13th. Finally, StockNews.com initiated coverage on NanoString Technologies in a report on Thursday, March 31st. They set a “sell” rating for the company.

In other NanoString Technologies news, SVP Joseph M. Beechem sold 2,436 shares of the business’s stock in a transaction dated Tuesday, March 15th. The stock was sold at an average price of $27.81, for a total transaction of $67,745.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO K Thomas Bailey sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 10th. The shares were sold at an average price of $33.81, for a total value of $169,050.00. The disclosure for this sale can be found here. Insiders sold 18,171 shares of company stock valued at $535,336 over the last quarter. Insiders own 2.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of NanoString Technologies by 106.7% in the third quarter. Wellington Management Group LLP now owns 4,273,970 shares of the biotechnology company’s stock worth $205,193,000 after acquiring an additional 2,206,252 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of NanoString Technologies by 10.1% in the fourth quarter. Marshall Wace LLP now owns 2,115,353 shares of the biotechnology company’s stock worth $89,331,000 after acquiring an additional 193,351 shares in the last quarter. Invesco Ltd. lifted its stake in shares of NanoString Technologies by 2.7% in the first quarter. Invesco Ltd. now owns 1,655,562 shares of the biotechnology company’s stock worth $57,531,000 after acquiring an additional 44,127 shares in the last quarter. Polar Capital Holdings Plc lifted its stake in shares of NanoString Technologies by 36.7% in the first quarter. Polar Capital Holdings Plc now owns 1,617,733 shares of the biotechnology company’s stock worth $56,216,000 after acquiring an additional 434,081 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its stake in shares of NanoString Technologies by 26.2% in the first quarter. Alyeska Investment Group L.P. now owns 1,443,432 shares of the biotechnology company’s stock worth $50,159,000 after acquiring an additional 299,778 shares in the last quarter.

Shares of NSTG stock opened at $15.73 on Tuesday. The business’s 50 day moving average is $21.35 and its two-hundred day moving average is $31.05. NanoString Technologies has a twelve month low of $13.52 and a twelve month high of $70.40. The company has a current ratio of 7.81, a quick ratio of 7.11 and a debt-to-equity ratio of 1.55.

NanoString Technologies (NASDAQ:NSTG – Get Rating) last announced its earnings results on Tuesday, May 10th. The biotechnology company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.32). NanoString Technologies had a negative net margin of 87.89% and a negative return on equity of 68.57%. The company had revenue of $31.08 million during the quarter, compared to analysts’ expectations of $30.95 million. During the same quarter last year, the business posted ($0.62) earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, research analysts predict that NanoString Technologies will post -2.64 earnings per share for the current year.

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.

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