NanoString Technologies, Inc. (NSTG) Posts Earnings Results, Beats Expectations By $0.11 EPS
NanoString Technologies, Inc. (NASDAQ:NSTG) issued its quarterly earnings results on Thursday. The biotechnology company reported ($0.45) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.56) by $0.11, Briefing.com reports. NanoString Technologies had a negative return on equity of 227.21% and a negative net margin of 44.24%. The business had revenue of $27.02 million during the quarter, compared to the consensus estimate of $26.27 million. During the same period in the previous year, the business earned ($0.51) EPS. The business’s quarterly revenue was up 12.9% on a year-over-year basis. NanoString Technologies updated its FY17 guidance to ($1.99-1.86) EPS.
Shares of NanoString Technologies (NASDAQ NSTG) traded down $2.12 on Friday, reaching $7.79. The company had a trading volume of 1,240,311 shares, compared to its average volume of 359,709. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.74 and a current ratio of 4.22.
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NSTG has been the subject of a number of research analyst reports. Zacks Investment Research downgraded NanoString Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. BidaskClub downgraded 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. Janney Montgomery Scott downgraded NanoString Technologies from a “buy” rating to a “neutral” rating in a report on Thursday, October 12th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $14.00 price target on shares of NanoString Technologies in a report on Tuesday, October 24th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $17.25.
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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