NanoString Technologies (NSTG) Lowered to Hold at Zacks Investment Research
NanoString Technologies (NASDAQ:NSTG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.
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. “
Several other research firms have also recently issued reports on NSTG. Cowen reiterated a “buy” rating and issued a $20.00 price objective on shares of NanoString Technologies in a research report on Thursday, September 28th. Janney Montgomery Scott cut NanoString Technologies from a “buy” rating to a “neutral” rating in a research report on Thursday, October 12th. Finally, Robert W. Baird restated a “buy” rating and issued a $14.00 price target on shares of NanoString Technologies in a research report on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $15.06.
NanoString Technologies (NASDAQ:NSTG) opened at $8.19 on Thursday. The stock has a market capitalization of $205.35, a price-to-earnings ratio of -3.96 and a beta of 0.82. The company has a debt-to-equity ratio of 1.08, a current ratio of 3.35 and a quick ratio of 2.89. NanoString Technologies has a 52-week low of $7.03 and a 52-week high of $20.70.
NanoString Technologies (NASDAQ:NSTG) last released its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.56) by $0.11. The firm had revenue of $27.02 million during the quarter, compared to analysts’ expectations of $26.27 million. NanoString Technologies had a negative return on equity of 174.55% and a negative net margin of 44.24%. NanoString Technologies’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.51) earnings per share. equities analysts expect that NanoString Technologies will post -1.77 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in the company. Algert Global LLC purchased a new position in shares of NanoString Technologies in the third quarter valued at $2,276,000. Neuberger Berman Group LLC purchased a new position in shares of NanoString Technologies in the third quarter valued at $9,677,000. Platinum Investment Management Ltd. increased its position in shares of NanoString Technologies by 31.5% in the third quarter. Platinum Investment Management Ltd. now owns 121,000 shares of the biotechnology company’s stock valued at $1,955,000 after buying an additional 29,000 shares in the last quarter. OxFORD Asset Management LLP increased its position in shares of NanoString Technologies by 53.6% in the third quarter. OxFORD Asset Management LLP now owns 50,734 shares of the biotechnology company’s stock valued at $819,000 after buying an additional 17,700 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of NanoString Technologies by 51.0% in the third quarter. Schwab Charles Investment Management Inc. now owns 36,400 shares of the biotechnology company’s stock valued at $589,000 after buying an additional 12,300 shares in the last quarter. Institutional investors and hedge funds own 92.29% of the company’s stock.
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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