Wall Street brokerages forecast that NanoString Technologies, Inc. (NASDAQ:NSTG) will announce $27.54 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for NanoString Technologies’ earnings, with estimates ranging from $27.50 million to $27.60 million. NanoString Technologies posted sales of $23.93 million in the same quarter last year, which suggests a positive year over year growth rate of 15.1%. The firm is scheduled to announce its next quarterly 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 financial year, with estimates ranging from $114.00 million to $115.11 million. For the next fiscal year, analysts forecast that the firm will report sales of $132.54 million per share, with estimates ranging from $123.00 million to $144.51 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow NanoString Technologies.

NanoString Technologies (NASDAQ:NSTG) last issued its 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 analyst estimates of $29.87 million. NanoString Technologies had a negative net margin of 44.28% and a negative return on equity of 329.59%.

Several analysts recently weighed in on NSTG shares. Zacks Investment Research cut shares of NanoString Technologies from a “buy” rating to a “sell” rating in a report on Thursday, July 6th. BidaskClub cut shares of NanoString Technologies from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Cowen and Company reiterated a “buy” rating and issued a $20.00 price target on shares of NanoString Technologies in a report on Thursday, September 28th. Finally, ValuEngine cut shares of NanoString Technologies from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. NanoString Technologies has a consensus rating of “Hold” and an average price target of $19.00.

NanoString Technologies (NASDAQ:NSTG) opened at 15.64 on Wednesday. The company’s market capitalization is $394.19 million. NanoString Technologies has a 52 week low of $13.17 and a 52 week high of $23.45. The company’s 50-day moving average is $15.68 and its 200 day moving average is $16.64.

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Several hedge funds have recently made changes to their positions in the company. Morgan Stanley boosted its holdings in shares of NanoString Technologies by 15.2% during the 1st quarter. Morgan Stanley now owns 1,886,772 shares of the biotechnology company’s stock valued at $37,490,000 after buying an additional 248,581 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of NanoString Technologies by 27.9% during the 2nd quarter. Vanguard Group Inc. now owns 752,699 shares of the biotechnology company’s stock valued at $12,449,000 after buying an additional 164,141 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of NanoString Technologies by 1,452.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 538,792 shares of the biotechnology company’s stock valued at $8,910,000 after buying an additional 504,075 shares in the last quarter. RE Advisers Corp boosted its holdings in shares of NanoString Technologies by 5.9% during the 2nd quarter. RE Advisers Corp now owns 521,132 shares of the biotechnology company’s stock valued at $8,620,000 after buying an additional 29,132 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of NanoString Technologies by 6.8% during the 1st quarter. Wellington Management Group LLP now owns 509,051 shares of the biotechnology company’s stock valued at $10,115,000 after buying an additional 32,541 shares in the last quarter. Hedge funds and other institutional investors own 92.98% of the company’s stock.

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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