Shares of NanoString Technologies, Inc. (NASDAQ:NSTG – Get Free Report) have earned an average recommendation of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $7.63.
Several equities analysts have recently weighed in on NSTG shares. Robert W. Baird downgraded shares of NanoString Technologies from an “outperform” rating to a “neutral” rating in a research note on Tuesday, November 21st. TD Cowen reissued a “market perform” rating on shares of NanoString Technologies in a research note on Monday, November 20th. UBS Group decreased their price target on shares of NanoString Technologies from $7.00 to $2.50 and set a “buy” rating on the stock in a research note on Thursday, October 12th. Morgan Stanley reduced their target price on shares of NanoString Technologies from $14.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 24th. Finally, StockNews.com began coverage on shares of NanoString Technologies in a research note on Sunday. They set a “sell” rating on the stock.
NanoString Technologies Price Performance
NanoString Technologies (NASDAQ:NSTG – Get Free Report) last released its quarterly earnings data on Monday, November 6th. The biotechnology company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.25). NanoString Technologies had a negative return on equity of 548.25% and a negative net margin of 102.44%. The company had revenue of $48.09 million during the quarter, compared to analysts’ expectations of $46.05 million. Research analysts expect that NanoString Technologies will post -3.02 earnings per share for the current year.
Institutional Investors Weigh In On NanoString Technologies
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its position in shares of NanoString Technologies by 4.8% during the 2nd quarter. BlackRock Inc. now owns 4,988,286 shares of the biotechnology company’s stock valued at $20,203,000 after buying an additional 228,780 shares during the last quarter. Vanguard Group Inc. boosted its stake in NanoString Technologies by 26.7% during the 3rd quarter. Vanguard Group Inc. now owns 3,569,859 shares of the biotechnology company’s stock valued at $6,140,000 after purchasing an additional 751,951 shares during the period. Blue Water Life Science Advisors LP acquired a new position in NanoString Technologies during the 2nd quarter valued at about $11,044,000. Platinum Investment Management Ltd. boosted its stake in NanoString Technologies by 104.7% during the 3rd quarter. Platinum Investment Management Ltd. now owns 2,285,137 shares of the biotechnology company’s stock valued at $3,930,000 after purchasing an additional 1,168,745 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in NanoString Technologies by 93.3% during the 3rd quarter. Acadian Asset Management LLC now owns 2,003,708 shares of the biotechnology company’s stock valued at $3,444,000 after purchasing an additional 967,219 shares during the period.
NanoString Technologies Company Profile
NanoString Technologies, Inc develops, manufactures, and sells technology for scientific and clinical information 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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