NanoString Technologies (NASDAQ:NSTG) PT Lowered to $14.00 – MarketBeat

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NanoString Technologies (NASDAQ:NSTG – Get Rating) had its target price dropped by equities research analysts at Canaccord Genuity Group from $30.00 to $14.00 in a research report issued to clients and investors on Thursday, The Fly reports. Canaccord Genuity Group’s price objective would suggest a potential upside of 138.91% from the company’s previous close.
A number of other equities analysts have also recently commented on the company. Cowen dropped their target price on NanoString Technologies from $31.00 to $24.00 and set an “outperform” rating for the company in a report on Tuesday. StockNews.com initiated coverage on NanoString Technologies in a report on Wednesday, October 12th. They issued a “sell” rating for the company. Robert W. Baird dropped their target price on NanoString Technologies from $21.00 to $14.00 and set an “outperform” rating for the company in a report on Tuesday. Cowen dropped their target price on NanoString Technologies from $31.00 to $24.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, Morgan Stanley dropped their target price on NanoString Technologies from $28.00 to $17.00 and set an “equal weight” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $28.57.

NanoString Technologies Stock Performance

NASDAQ NSTG opened at $5.86 on Thursday. The stock has a market capitalization of $272.43 million, a PE ratio of -1.87 and a beta of 1.69. The company has a debt-to-equity ratio of 2.00, a current ratio of 6.84 and a quick ratio of 6.04. The business has a 50 day simple moving average of $12.05 and a two-hundred day simple moving average of $13.77. NanoString Technologies has a 1-year low of $4.37 and a 1-year high of $50.12.

Institutional Investors Weigh In On NanoString Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NSTG. Guggenheim Capital LLC increased its position in shares of NanoString Technologies by 3.5% during the first quarter. Guggenheim Capital LLC now owns 19,410 shares of the biotechnology company’s stock worth $675,000 after acquiring an additional 659 shares during the period. LPL Financial LLC boosted its holdings in shares of NanoString Technologies by 3.9% in the second quarter. LPL Financial LLC now owns 20,563 shares of the biotechnology company’s stock valued at $261,000 after purchasing an additional 779 shares during the period. Advisor Group Holdings Inc. grew its stake in NanoString Technologies by 21.1% in the first quarter. Advisor Group Holdings Inc. now owns 4,595 shares of the biotechnology company’s stock worth $162,000 after purchasing an additional 800 shares in the last quarter. First Republic Investment Management Inc. raised its position in NanoString Technologies by 4.4% during the 2nd quarter. First Republic Investment Management Inc. now owns 22,393 shares of the biotechnology company’s stock valued at $284,000 after purchasing an additional 953 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of NanoString Technologies by 0.5% in the 1st quarter. Clearbridge Investments LLC now owns 227,288 shares of the biotechnology company’s stock worth $7,898,000 after buying an additional 1,033 shares during the period.

NanoString Technologies Company Profile

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NanoString Technologies, Inc develops, manufactures, and sells tools for scientific and clinical research in the fields of genomics and proteomics in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system.

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