NanoString Technologies, Inc. (NSTG) Expected to Announce Quarterly Sales of $27.54 Million
Analysts expect NanoString Technologies, Inc. (NASDAQ:NSTG) to report sales of $27.54 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for NanoString Technologies’ earnings, with the highest sales estimate coming in at $27.60 million and the lowest estimate coming in at $27.50 million. NanoString Technologies posted sales of $23.93 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 15.1%. The company is expected to report its next earnings report on Wednesday, November 1st.
On average, analysts expect that NanoString Technologies will report full year sales of $27.54 million for the current fiscal year, with estimates ranging from $114.00 million to $115.11 million. For the next year, analysts expect that the firm will report sales of $132.54 million per share, with estimates ranging from $123.00 million to $144.51 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for NanoString Technologies.
NanoString Technologies (NASDAQ:NSTG) last issued its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.17. The business had revenue of $34.59 million for the quarter, compared to the consensus estimate of $29.87 million. NanoString Technologies had a negative net margin of 44.28% and a negative return on equity of 329.59%.
A number of research analysts have issued reports on the company. Zacks Investment Research upgraded NanoString Technologies from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Wednesday, July 5th. ValuEngine upgraded NanoString Technologies from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Cowen and Company reiterated a “buy” rating on shares of NanoString Technologies in a research report on Friday, July 14th. BidaskClub cut NanoString Technologies from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Finally, Morgan Stanley cut NanoString Technologies from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $23.00 to $20.00 in a research report on Thursday, April 20th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.50.
NanoString Technologies (NASDAQ:NSTG) opened at 13.87 on Thursday. The firm’s market cap is $349.58 million. The company’s 50-day moving average is $15.53 and its 200 day moving average is $17.56. NanoString Technologies has a 12 month low of $13.17 and a 12 month high of $23.45.
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Several hedge funds have recently made changes to their positions in the stock. Endurant Capital Management LP purchased a new stake in shares of NanoString Technologies during the first quarter worth approximately $1,755,000. State Street Corp raised its stake in shares of NanoString Technologies by 16.7% in the fourth quarter. State Street Corp now owns 223,065 shares of the biotechnology company’s stock worth $4,977,000 after buying an additional 31,911 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of NanoString Technologies by 7.1% in the fourth quarter. Teachers Advisors LLC now owns 23,597 shares of the biotechnology company’s stock worth $526,000 after buying an additional 1,557 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of NanoString Technologies by 45.7% in the first quarter. Renaissance Technologies LLC now owns 350,000 shares of the biotechnology company’s stock worth $6,955,000 after buying an additional 109,800 shares during the last quarter. Finally, Eagle Global Advisors LLC purchased a new stake in shares of NanoString Technologies during the first quarter worth approximately $360,000. 90.10% of the stock is currently owned by hedge funds and other institutional investors.
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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