NanoString Technologies, Inc. (NASDAQ:NSTG) Given Consensus Rating of "Moderate Buy" by Brokerages – MarketBeat
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NanoString Technologies, Inc. (NASDAQ:NSTG – Get Rating) has earned a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $28.57.
Several equities analysts have recently weighed in on NSTG shares. Canaccord Genuity Group cut their target price on NanoString Technologies from $30.00 to $14.00 in a research report on Thursday, November 10th. StockNews.com began coverage on NanoString Technologies in a report on Wednesday, October 12th. They issued a “sell” rating for the company. Robert W. Baird lowered 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, November 8th. Morgan Stanley lowered 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, November 9th. Finally, Cowen decreased their price objective on NanoString Technologies from $31.00 to $24.00 and set an “outperform” rating for the company in a research note on Tuesday, November 8th.
NanoString Technologies Stock Up 1.8 %
Shares of NSTG opened at $7.25 on Friday. The stock has a market capitalization of $338.19 million, a price-to-earnings ratio of -2.31 and a beta of 1.61. NanoString Technologies has a 1 year low of $4.37 and a 1 year high of $43.81. The business’s 50 day simple moving average is $9.50 and its 200-day simple moving average is $12.53. The company has a debt-to-equity ratio of 2.73, a current ratio of 6.26 and a quick ratio of 5.36.
Institutional Trading of NanoString Technologies
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky acquired a new stake in NanoString Technologies during the third quarter worth about $331,000. Balyasny Asset Management LLC grew its holdings in NanoString Technologies by 3,642.7% during the third quarter. Balyasny Asset Management LLC now owns 935,681 shares of the biotechnology company’s stock worth $11,949,000 after acquiring an additional 910,681 shares during the period. State Street Corp grew its holdings in NanoString Technologies by 1.9% during the third quarter. State Street Corp now owns 943,576 shares of the biotechnology company’s stock worth $12,049,000 after acquiring an additional 17,545 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in NanoString Technologies during the third quarter worth about $3,364,000. Finally, Algert Global LLC grew its holdings in NanoString Technologies by 109.0% during the third quarter. Algert Global LLC now owns 36,725 shares of the biotechnology company’s stock worth $469,000 after acquiring an additional 19,152 shares during the period.
About NanoString Technologies
(Get Rating)
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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