Equities research analysts predict that NanoString Technologies Inc (NASDAQ:NSTG) will post sales of $25.42 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for NanoString Technologies’ earnings. The lowest sales estimate is $25.39 million and the highest is $25.46 million. NanoString Technologies posted sales of $23.09 million during the same quarter last year, which would indicate a positive year over year growth rate of 10.1%. The firm is expected to report its next quarterly earnings report after the market closes on Thursday, May 9th.
On average, analysts expect that NanoString Technologies will report full year sales of $120.67 million for the current fiscal year, with estimates ranging from $120.22 million to $121.12 million. For the next year, analysts forecast that the business will report sales of $136.94 million, with estimates ranging from $133.70 million to $140.18 million. Zacks’ sales averages are an average based on a survey of analysts that follow NanoString Technologies.
NanoString Technologies (NASDAQ:NSTG) last announced its earnings results on Thursday, March 7th. The biotechnology company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.18). The company had revenue of $30.03 million for the quarter. NanoString Technologies had a negative return on equity of 252.59% and a negative net margin of 72.52%.
A number of equities research analysts have issued reports on NSTG shares. BidaskClub raised NanoString Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $35.00 target price on shares of NanoString Technologies in a research report on Friday, March 8th. ValuEngine raised NanoString Technologies from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 2nd. Finally, Zacks Investment Research cut NanoString Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, March 12th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $22.80.
In other news, SVP Mary Tedd Allen sold 2,941 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $25.91, for a total value of $76,201.31. Following the completion of the sale, the senior vice president now directly owns 24,996 shares of the company’s stock, valued at $647,646.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Lifesciences Ii L.P. Clarus sold 2,000,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $21.62, for a total value of $43,240,000.00. The disclosure for this sale can be found here. Insiders sold 2,088,141 shares of company stock valued at $43,896,351 over the last three months. 20.90% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc raised its stake in shares of NanoString Technologies by 28.4% in the third quarter. Legal & General Group Plc now owns 3,800 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 840 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of NanoString Technologies by 21.5% in the third quarter. Alliancebernstein L.P. now owns 19,800 shares of the biotechnology company’s stock valued at $353,000 after purchasing an additional 3,500 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of NanoString Technologies by 9.3% in the third quarter. Teachers Advisors LLC now owns 51,574 shares of the biotechnology company’s stock valued at $920,000 after purchasing an additional 4,399 shares in the last quarter. MetLife Investment Advisors LLC raised its stake in NanoString Technologies by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 17,579 shares of the biotechnology company’s stock worth $313,000 after acquiring an additional 6,249 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its stake in NanoString Technologies by 430.9% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 8,893 shares of the biotechnology company’s stock worth $132,000 after acquiring an additional 7,218 shares in the last quarter. Institutional investors and hedge funds own 87.94% of the company’s stock.
Shares of NanoString Technologies stock opened at $25.12 on Tuesday. The company has a market cap of $807.46 million, a price-to-earnings ratio of -9.04 and a beta of 1.30. The company has a debt-to-equity ratio of 1.58, a current ratio of 3.05 and a quick ratio of 2.75. NanoString Technologies has a 12-month low of $8.97 and a 12-month high of $31.14.
NanoString Technologies Company Profile
NanoString Technologies, Inc engages in the provision of life science tools for translational research and molecular diagnostic products. It offers analysis solutions, gene expression panels, protein assays, DNA Assaya, miRNA assays, vantage 3D assays, custom solutions, sample prep and nCounter consumables, and nDesign gateway.
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