NanoString Technologies (NSTG) Stock Rating Upgraded by Zacks Investment Research

NanoString Technologies (NASDAQ:NSTG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $8.25 target price on the biotechnology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 1.48% from the company’s previous close.

According to Zacks, “NanoString Technologies, Inc. is engaged in the development, manufacture and sale of life science tools. It provides nCounter Analysis System which supports research and development of clinical applications from basic discovery to the development of future molecular diagnostic tests on a single platform. The company also offers nSolver Analysis software, gene expression panels, miRNA expression assay kits, cancer copy number variation panels, nCounter leukemia fusion gene expression assay kits and human karyotype panels, custom CodeSets and master kits that are ancillary reagents, cartridges, tips and reagent plates to setup and process samples in its instruments. It markets its systems and related consumables to researchers in academic, government and biopharmaceutical laboratories primarily in North America, Europe, the Middle East and the Asia Pacific. NanoString Technologies, Inc. is headquartered in Seattle, Washington. “

A number of other analysts have also issued reports on NSTG. Cowen restated a “buy” rating and set a $20.00 target price on shares of NanoString Technologies in a research report on Thursday, September 28th. Robert W. Baird decreased their price target on shares of NanoString Technologies from $23.00 to $19.00 and set an “outperform” rating on the stock in a report on Thursday, October 12th. Finally, Janney Montgomery Scott lowered shares of NanoString Technologies from a “buy” rating to a “neutral” rating in a report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $15.06.

Shares of NanoString Technologies (NASDAQ NSTG) traded up $0.32 during midday trading on Wednesday, reaching $8.13. 239,300 shares of the company were exchanged, compared to its average volume of 166,867. NanoString Technologies has a 1 year low of $7.03 and a 1 year high of $23.25. The firm has a market capitalization of $198.24, a price-to-earnings ratio of -3.93 and a beta of 0.82. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.89 and a current ratio of 3.35.

NanoString Technologies (NASDAQ:NSTG) last announced its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.56) by $0.11. NanoString Technologies had a negative net margin of 44.24% and a negative return on equity of 174.55%. The firm had revenue of $27.02 million for the quarter, compared to analyst estimates of $26.27 million. During the same quarter last year, the business earned ($0.51) earnings per share. NanoString Technologies’s revenue was up 12.9% compared to the same quarter last year. analysts anticipate that NanoString Technologies will post -1.77 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in shares of NanoString Technologies during the 3rd quarter valued at $124,000. Bank of Montreal Can increased its stake in NanoString Technologies by 3,731.4% during the 2nd quarter. Bank of Montreal Can now owns 9,387 shares of the biotechnology company’s stock worth $156,000 after buying an additional 9,142 shares during the period. Trexquant Investment LP purchased a new stake in NanoString Technologies during the 3rd quarter worth $203,000. Dynamic Technology Lab Private Ltd purchased a new stake in NanoString Technologies during the 3rd quarter worth $222,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in NanoString Technologies during the 3rd quarter worth $240,000. Institutional investors and hedge funds own 92.29% of the company’s stock.

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About NanoString Technologies

NanoString Technologies, Inc develops, manufactures and sells intuitive products that unlock scientifically valuable and clinically actionable biologic information from minute amounts of tissue. The Company is engaged in the development, manufacture and commercialization of instruments, consumables and services for profiling the activity of hundreds of genes and proteins simultaneously from a single tissue sample.

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