NanoString Technologies, Inc. (NASDAQ:NSTG) Lowered to “Hold” at Zacks Investment Research
NanoString Technologies, Inc. (NASDAQ:NSTG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday.
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 commented on the stock. ValuEngine raised shares of NanoString Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Morgan Stanley downgraded shares of NanoString Technologies from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $23.00 to $20.00 in a research note on Thursday, April 20th. BidaskClub downgraded shares of NanoString Technologies from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of NanoString Technologies in a research note on Friday, July 14th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. NanoString Technologies presently has an average rating of “Hold” and a consensus target price of $18.50.
Shares of NanoString Technologies (NASDAQ:NSTG) opened at 14.07 on Friday. NanoString Technologies has a 12 month low of $13.17 and a 12 month high of $23.45. The stock’s 50 day moving average is $15.75 and its 200 day moving average is $17.64. The stock’s market capitalization is $319.00 million.
NanoString Technologies (NASDAQ:NSTG) last posted its quarterly 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. The firm had revenue of $34.59 million for the quarter, compared to analyst estimates of $29.87 million. NanoString Technologies had a negative net margin of 44.28% and a negative return on equity of 5,009.78%. Analysts anticipate that NanoString Technologies will post ($2.24) earnings per share for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in NSTG. Russell Investments Group Ltd. increased its stake in NanoString Technologies by 1,452.0% in the second quarter. Russell Investments Group Ltd. now owns 538,792 shares of the biotechnology company’s stock worth $8,910,000 after buying an additional 504,075 shares during the period. Morgan Stanley increased its stake in NanoString Technologies by 15.2% in the first quarter. Morgan Stanley now owns 1,886,772 shares of the biotechnology company’s stock worth $37,490,000 after buying an additional 248,581 shares during the period. Marshall Wace North America L.P. bought a new stake in NanoString Technologies during the second quarter worth about $4,200,000. Vanguard Group Inc. increased its stake in NanoString Technologies by 27.9% in the second quarter. Vanguard Group Inc. now owns 752,699 shares of the biotechnology company’s stock worth $12,449,000 after buying an additional 164,141 shares during the period. Finally, RE Advisers Corp increased its stake in NanoString Technologies by 48.2% in the first quarter. RE Advisers Corp now owns 492,000 shares of the biotechnology company’s stock worth $9,776,000 after buying an additional 160,000 shares during the period. 89.47% of the stock is currently owned by institutional investors and hedge funds.
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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