NanoString Technologies (NASDAQ:NSTG) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a report issued on Friday.
NSTG has been the subject of several other research reports. Zacks Investment Research upgraded NanoString Technologies from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Wednesday, May 9th. Morgan Stanley reiterated an “equal weight” rating and issued a $12.00 price objective (down previously from $13.00) on shares of NanoString Technologies in a research report on Thursday, March 8th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $13.75.
Shares of NanoString Technologies opened at $12.15 on Friday, according to Marketbeat. The company has a quick ratio of 2.67, a current ratio of 3.29 and a debt-to-equity ratio of 1.97. NanoString Technologies has a 52-week low of $5.87 and a 52-week high of $18.58. The firm has a market capitalization of $300.00 million, a price-to-earnings ratio of -6.60 and a beta of 0.72.
NanoString Technologies (NASDAQ:NSTG) last issued its quarterly earnings data on Tuesday, May 8th. The biotechnology company reported ($0.75) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.76) by $0.01. NanoString Technologies had a negative return on equity of 108.29% and a negative net margin of 36.62%. The firm had revenue of $23.09 million during the quarter, compared to the consensus estimate of $21.48 million. equities research analysts forecast that NanoString Technologies will post -2.79 earnings per share for the current year.
In other news, Director William Young bought 30,000 shares of the stock in a transaction dated Tuesday, March 13th. The stock was bought at an average cost of $6.91 per share, with a total value of $207,300.00. Following the purchase, the director now owns 30,000 shares of the company’s stock, valued at $207,300. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 20.90% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of NanoString Technologies by 12.7% in the 1st quarter. BlackRock Inc. now owns 1,788,262 shares of the biotechnology company’s stock valued at $13,430,000 after buying an additional 201,325 shares during the period. Levin Capital Strategies L.P. increased its stake in shares of NanoString Technologies by 35.5% in the 4th quarter. Levin Capital Strategies L.P. now owns 1,273,146 shares of the biotechnology company’s stock valued at $9,510,000 after buying an additional 333,525 shares during the period. ARK Investment Management LLC increased its stake in shares of NanoString Technologies by 301.2% in the 4th quarter. ARK Investment Management LLC now owns 1,138,821 shares of the biotechnology company’s stock valued at $8,507,000 after buying an additional 854,963 shares during the period. Altrinsic Global Advisors LLC increased its stake in shares of NanoString Technologies by 9.0% in the 1st quarter. Altrinsic Global Advisors LLC now owns 526,411 shares of the biotechnology company’s stock valued at $3,953,000 after buying an additional 43,300 shares during the period. Finally, Algert Global LLC increased its stake in shares of NanoString Technologies by 111.9% in the 1st quarter. Algert Global LLC now owns 205,612 shares of the biotechnology company’s stock valued at $1,544,000 after buying an additional 108,566 shares during the period. 91.15% of the stock is owned by institutional investors.
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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