NanoString Technologies Inc. (NASDAQ:NSTG) shares shot up 5.8% on Monday . The company traded as high as $13.78 and last traded at $13.74, with a volume of 51,516 shares traded. The stock had previously closed at $12.99.

A number of research firms have weighed in on NSTG. Robert W. Baird reiterated a “buy” rating on shares of NanoString Technologies in a report on Sunday, May 8th. BTIG Research reiterated a “buy” rating on shares of NanoString Technologies in a report on Sunday, April 3rd. Janney Montgomery Scott began coverage on NanoString Technologies in a report on Tuesday, March 15th. They set a “buy” rating and a $21.00 target price on the stock. Zacks Investment Research upgraded NanoString Technologies from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Wednesday, May 4th. Finally, Morgan Stanley reiterated a “buy” rating on shares of NanoString Technologies in a report on Sunday, May 8th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $19.20.

The firm has a 50-day moving average price of $13.37 and a 200-day moving average price of $14.28. The stock’s market cap is $274.24 million.

NanoString Technologies (NASDAQ:NSTG) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($0.74) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.69) by $0.05. The company had revenue of $14.70 million for the quarter, compared to analysts’ expectations of $14.92 million. During the same period last year, the firm posted ($0.81) earnings per share. The company’s revenue was up 26.7% compared to the same quarter last year. Analysts expect that NanoString Technologies Inc. will post ($2.42) earnings per share for the current fiscal year.

A hedge fund recently raised its stake in NanoString Technologies stock. Morgan Stanley raised its position in shares of NanoString Technologies Inc. (NASDAQ:NSTG) by 21.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,585,122 shares of the company’s stock after buying an additional 284,101 shares during the period. Morgan Stanley owned 8.13% of NanoString Technologies worth $23,317,000 as of its most recent filing with the SEC.

NanoString Technologies, Inc is engaged in detection, identification and quantification of individual target molecules in a biological sample by attaching a color coded fluorescent reporter to each target molecule of interest. The Company markets its nCounter Analysis System, consisting of instruments and consumables, including its Prosigna Breast Cancer Assay, to academic, government and biopharmaceutical and clinical laboratory customers.

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