NanoString Technologies Inc (NSTG) Receives Consensus Rating of “Hold” from Brokerages

Shares of NanoString Technologies Inc (NASDAQ:NSTG) have been assigned a consensus rating of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $16.00.

NSTG has been the subject of several research analyst reports. Janney Montgomery Scott downgraded NanoString Technologies from a “buy” rating to a “neutral” rating in a research note on Thursday, October 12th. Zacks Investment Research raised NanoString Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Robert W. Baird reissued a “buy” rating and issued a $14.00 price objective on shares of NanoString Technologies in a research note on Tuesday, October 24th. Finally, Cowen downgraded NanoString Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 12th.

A number of hedge funds have recently modified their holdings of NSTG. SG Americas Securities LLC acquired a new position in NanoString Technologies in the 3rd quarter worth about $124,000. Trexquant Investment LP acquired a new position in NanoString Technologies in the 3rd quarter worth about $203,000. Dynamic Technology Lab Private Ltd acquired a new position in NanoString Technologies in the 3rd quarter worth about $222,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in NanoString Technologies in the 3rd quarter worth about $240,000. Finally, The Manufacturers Life Insurance Company increased its position in NanoString Technologies by 25.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,542 shares of the biotechnology company’s stock worth $257,000 after purchasing an additional 3,132 shares during the last quarter. 92.29% of the stock is currently owned by institutional investors.

Shares of NanoString Technologies (NASDAQ NSTG) remained flat at $$8.33 during trading on Friday. The stock had a trading volume of 108,161 shares, compared to its average volume of 135,403. The stock has a market capitalization of $211.44, a PE ratio of -4.02 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 has a twelve month low of $7.03 and a twelve month high of $20.70.

NanoString Technologies (NASDAQ:NSTG) last announced its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.11. The firm had revenue of $27.02 million during the quarter, compared to the consensus estimate of $26.27 million. NanoString Technologies had a negative return on equity of 174.55% and a negative net margin of 44.24%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.51) EPS. sell-side analysts predict that NanoString Technologies will post -1.81 earnings per share for the current year.

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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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