NanoString Technologies (NSTG) Updates FY 2018 Earnings Guidance
NanoString Technologies (NASDAQ:NSTG) updated its FY 2018 earnings guidance on Thursday. The company provided earnings per share guidance of $-2.5–2.6 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-2.54. The company issued revenue guidance of $104-106 million, compared to the consensus revenue estimate of $105.59 million.
Several equities analysts have recently weighed in on the stock. ValuEngine upgraded shares of NanoString Technologies from a buy rating to a strong-buy rating in a research report on Friday, October 12th. Morgan Stanley raised their price objective on shares of NanoString Technologies from $17.00 to $18.00 and gave the company an equal weight rating in a research report on Wednesday, October 10th. UBS Group assumed coverage on shares of NanoString Technologies in a research report on Tuesday, October 9th. They set a buy rating and a $23.00 price objective for the company. Zacks Investment Research lowered shares of NanoString Technologies from a buy rating to a hold rating in a research report on Tuesday, October 9th. Finally, BidaskClub lowered shares of NanoString Technologies from a buy rating to a hold rating in a research report on Friday, October 5th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. NanoString Technologies presently has a consensus rating of Buy and a consensus target price of $19.60.
NSTG stock traded down $0.13 during mid-day trading on Thursday, reaching $15.09. 743,612 shares of the stock traded hands, compared to its average volume of 245,303. The company has a current ratio of 2.49, a quick ratio of 2.01 and a debt-to-equity ratio of 5.77. NanoString Technologies has a 52-week low of $5.87 and a 52-week high of $18.86. The firm has a market capitalization of $445.63 million, a PE ratio of -8.20 and a beta of 0.73.
In other NanoString Technologies news, SVP Mary Tedd Allen sold 26,895 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $17.60, for a total transaction of $473,352.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nicholas Galakatos sold 85,823 shares of the company’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $15.99, for a total transaction of $1,372,309.77. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by corporate insiders.
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NanoString Technologies Company Profile
NanoString Technologies, Inc provides life science tools for translational research and molecular diagnostic products worldwide. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system. It provides nCounter MAX and FLEX systems that include Prep Station, an automated liquid handling component that processes and prepares samples for data collection; and nCounter Digital Analyzer, which collects data from samples by taking images of the immobilized fluorescent reporters in the sample cartridge and processing the data into output files.
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