NanoString Technologies, Inc. (NASDAQ:NSTG)‘s stock had its “buy” rating reissued by Cowen and Company in a research note issued to investors on Friday.
NSTG has been the topic of several other research reports. Zacks Investment Research cut shares of NanoString Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, March 23rd. ValuEngine upgraded shares of NanoString Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Finally, Morgan Stanley cut shares of NanoString Technologies from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $23.00 to $20.00 in a research note on Thursday, April 20th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. NanoString Technologies currently has a consensus rating of “Hold” and a consensus target price of $19.67.
NanoString Technologies (NSTG) opened at 16.08 on Friday. The stock’s market cap is $348.78 million. NanoString Technologies has a 1-year low of $13.06 and a 1-year high of $23.45. The stock has a 50 day moving average of $17.03 and a 200 day moving average of $18.73.
NanoString Technologies (NASDAQ:NSTG) last issued its quarterly earnings data on Thursday, May 4th. The biotechnology company reported ($0.87) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.87). NanoString Technologies had a negative net margin of 57.13% and a negative return on equity of 6,777.29%. The firm had revenue of $18.10 million for the quarter, compared to analysts’ expectations of $17.53 million. During the same quarter in the prior year, the business earned ($0.74) EPS. The business’s quarterly revenue was up 23.1% on a year-over-year basis. Equities analysts anticipate that NanoString Technologies will post ($2.56) EPS for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its stake in NanoString Technologies by 3,731.4% in the second quarter. Bank of Montreal Can now owns 9,387 shares of the biotechnology company’s stock worth $156,000 after buying an additional 9,142 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in NanoString Technologies by 43.1% in the first quarter. Goldman Sachs Group Inc. now owns 71,683 shares of the biotechnology company’s stock worth $1,424,000 after buying an additional 21,584 shares during the last quarter. Platinum Investment Management Ltd. boosted its stake in NanoString Technologies by 23.8% in the first quarter. Platinum Investment Management Ltd. now owns 92,000 shares of the biotechnology company’s stock worth $1,828,000 after buying an additional 17,700 shares during the last quarter. Credit Suisse AG boosted its stake in NanoString Technologies by 66.0% in the first quarter. Credit Suisse AG now owns 133,841 shares of the biotechnology company’s stock worth $2,660,000 after buying an additional 53,205 shares during the last quarter. Finally, Endurant Capital Management LP purchased a new stake in NanoString Technologies during the first quarter worth approximately $1,755,000. Institutional investors own 87.10% 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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