Robert W. Baird Lowers NanoString Technologies (NASDAQ:NSTG) to Neutral

NanoString Technologies (NASDAQ:NSTG) was downgraded by research analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a report issued on Tuesday, November 21st, MarketBeat reports.

Other equities research analysts have also issued reports about the stock. UBS Group reduced their target price on shares of NanoString Technologies from $7.00 to $2.50 and set a “buy” rating for the company in a report on Thursday, October 12th. Morgan Stanley lowered their price objective on NanoString Technologies from $14.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 24th. StockNews.com started coverage on NanoString Technologies in a research report on Thursday, October 5th. They set a “sell” rating for the company. TD Cowen reissued a “market perform” rating on shares of NanoString Technologies in a research note on Monday, November 20th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $10.00 price objective on shares of NanoString Technologies in a research note on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.63.

NanoString Technologies Stock Down 1.5 %

NSTG stock traded down $0.01 during midday trading on Tuesday, hitting $0.55. The stock had a trading volume of 1,448,687 shares, compared to its average volume of 1,300,054. The business has a 50-day moving average of $1.35 and a two-hundred day moving average of $3.19. The firm has a market cap of $26.34 million, a price-to-earnings ratio of -0.16 and a beta of 1.67. The company has a debt-to-equity ratio of 16.67, a current ratio of 2.73 and a quick ratio of 2.02. NanoString Technologies has a 52-week low of $0.47 and a 52-week high of $13.20.

NanoString Technologies (NASDAQ:NSTG) last announced its quarterly earnings data on Monday, November 6th. The biotechnology company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.25). The firm had revenue of $48.09 million for the quarter, compared to analysts’ expectations of $46.05 million. NanoString Technologies had a negative net margin of 102.44% and a negative return on equity of 548.25%. As a group, equities research analysts forecast that NanoString Technologies will post -3.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NanoString Technologies

Several hedge funds have recently modified their holdings of the business. Guggenheim Capital LLC raised its stake in NanoString Technologies by 3.5% in the first quarter. Guggenheim Capital LLC now owns 19,410 shares of the biotechnology company’s stock worth $675,000 after buying an additional 659 shares in the last quarter. LPL Financial LLC lifted its stake in shares of NanoString Technologies by 3.9% during the 2nd quarter. LPL Financial LLC now owns 20,563 shares of the biotechnology company’s stock worth $261,000 after purchasing an additional 779 shares during the last quarter. Advisor Group Holdings Inc. boosted its position in NanoString Technologies by 21.1% during the first quarter. Advisor Group Holdings Inc. now owns 4,595 shares of the biotechnology company’s stock valued at $162,000 after purchasing an additional 800 shares in the last quarter. First Republic Investment Management Inc. grew its stake in NanoString Technologies by 4.4% in the second quarter. First Republic Investment Management Inc. now owns 22,393 shares of the biotechnology company’s stock valued at $284,000 after purchasing an additional 953 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in NanoString Technologies by 0.5% in the first quarter. Clearbridge Investments LLC now owns 227,288 shares of the biotechnology company’s stock worth $7,898,000 after purchasing an additional 1,033 shares in the last quarter.

NanoString Technologies Company Profile

NanoString Technologies, Inc develops, manufactures, and sells technology for scientific and clinical information in the fields of genomics and proteomics in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system.