NanoString Technologies, Inc. (NSTG) Stock Rating Upgraded by Zacks Investment Research
NanoString Technologies, Inc. (NASDAQ:NSTG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm currently has a $17.00 price objective on the biotechnology company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 24.27% from the stock’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 equities analysts also recently weighed in on the company. Morgan Stanley downgraded NanoString Technologies from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $23.00 to $20.00 in a research note on Thursday, April 20th. ValuEngine raised shares of NanoString Technologies from a “sell” rating to a “hold” rating in a report on Saturday, July 1st. Cowen and Company reaffirmed a “buy” rating on shares of NanoString Technologies in a report on Friday, July 14th. Finally, BidaskClub cut shares of NanoString Technologies from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $18.50.
Shares of NanoString Technologies (NASDAQ NSTG) opened at 13.68 on Thursday. The firm has a 50-day moving average price of $15.93 and a 200 day moving average price of $17.75. NanoString Technologies has a 1-year low of $13.17 and a 1-year high of $23.45. The company’s market cap is $296.72 million.
NanoString Technologies (NASDAQ:NSTG) last announced its earnings results on Tuesday, August 8th. The biotechnology company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.17. NanoString Technologies had a negative return on equity of 6,777.29% and a negative net margin of 57.13%. The firm had revenue of $34.59 million for the quarter, compared to the consensus estimate of $29.87 million. On average, analysts predict that NanoString Technologies will post ($2.40) EPS for the current fiscal year.
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Large investors have recently bought and sold shares of the company. Bank of Montreal Can boosted its stake in NanoString Technologies by 3,731.4% in the second 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. American International Group Inc. boosted its stake in NanoString Technologies by 7.4% in the first quarter. American International Group Inc. now owns 9,153 shares of the biotechnology company’s stock worth $182,000 after buying an additional 634 shares during the period. Bank of America Corp DE boosted its stake in NanoString Technologies by 16.6% in the first quarter. Bank of America Corp DE now owns 11,404 shares of the biotechnology company’s stock worth $227,000 after buying an additional 1,627 shares during the period. Rhumbline Advisers boosted its stake in NanoString Technologies by 20.6% in the second quarter. Rhumbline Advisers now owns 21,332 shares of the biotechnology company’s stock worth $353,000 after buying an additional 3,640 shares during the period. Finally, Eagle Global Advisors LLC bought a new stake in NanoString Technologies during the first quarter worth approximately $360,000. 89.47% of the stock is currently owned by institutional investors.
NanoString Technologies Company Profile
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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