$32.40 Million in Sales Expected for NanoString Technologies, Inc. (NASDAQ:NSTG) This Quarter

Wall Street analysts expect that NanoString Technologies, Inc. (NASDAQ:NSTGGet Rating) will report $32.40 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for NanoString Technologies’ earnings, with the lowest sales estimate coming in at $32.10 million and the highest estimate coming in at $32.62 million. NanoString Technologies reported sales of $33.86 million during the same quarter last year, which indicates a negative year-over-year growth rate of 4.3%. The business is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that NanoString Technologies will report full year sales of $155.31 million for the current fiscal year, with estimates ranging from $151.99 million to $157.35 million. For the next financial year, analysts forecast 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 calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for NanoString Technologies.

NanoString Technologies (NASDAQ:NSTGGet Rating) last released its quarterly earnings data on Tuesday, May 10th. The biotechnology company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $30.95 million. During the same quarter in the prior year, the firm earned ($0.62) EPS. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year.

A number of research analysts recently issued reports on NSTG shares. Robert W. Baird reduced their price objective on NanoString Technologies from $35.00 to $30.00 in a research report on Wednesday, May 11th. Canaccord Genuity Group reduced their price objective on NanoString Technologies from $50.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, April 13th. JPMorgan Chase & Co. reduced their price target on NanoString Technologies from $85.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, March 2nd. StockNews.com began coverage on NanoString Technologies in a research report on Thursday, March 31st. They set a “sell” rating for the company. Finally, Cowen reduced their price target on NanoString Technologies from $65.00 to $50.00 in a research report on Wednesday, April 13th. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $45.00.

NASDAQ:NSTG opened at $15.83 on Wednesday. NanoString Technologies has a 12-month low of $13.52 and a 12-month high of $70.40. The firm has a market capitalization of $734.77 million, a P/E ratio of -5.67 and a beta of 1.99. The company has a debt-to-equity ratio of 1.55, a current ratio of 7.81 and a quick ratio of 7.11. The business has a 50 day simple moving average of $20.97 and a 200 day simple moving average of $30.95.

In other news, SVP Joseph M. Beechem sold 2,436 shares of the company’s stock in a transaction on Tuesday, March 15th. The stock was sold at an average price of $27.81, for a total value of $67,745.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO K Thomas Bailey sold 2,110 shares of the company’s stock in a transaction on Tuesday, March 15th. The shares were sold at an average price of $27.81, for a total value of $58,679.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,171 shares of company stock valued at $535,336. Insiders own 2.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in NSTG. Geode Capital Management LLC raised its position in shares of NanoString Technologies by 1.2% during the third quarter. Geode Capital Management LLC now owns 808,394 shares of the biotechnology company’s stock worth $38,810,000 after purchasing an additional 9,342 shares during the period. Credit Suisse AG raised its position in shares of NanoString Technologies by 18.3% during the third quarter. Credit Suisse AG now owns 36,298 shares of the biotechnology company’s stock worth $1,743,000 after purchasing an additional 5,603 shares during the period. Arizona State Retirement System raised its position in shares of NanoString Technologies by 2.8% during the third quarter. Arizona State Retirement System now owns 12,315 shares of the biotechnology company’s stock worth $591,000 after purchasing an additional 337 shares during the period. Jump Financial LLC acquired a new stake in shares of NanoString Technologies during the third quarter worth $263,000. Finally, Trexquant Investment LP raised its position in shares of NanoString Technologies by 278.6% during the third quarter. Trexquant Investment LP now owns 11,993 shares of the biotechnology company’s stock worth $576,000 after purchasing an additional 8,825 shares during the period.

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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