NanoString Technologies, Inc. (NASDAQ:NSTG) Given Consensus Rating of "Moderate Buy" by Analysts – MarketBeat
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Shares of NanoString Technologies, Inc. (NASDAQ:NSTG – Get Rating) have earned a consensus rating of “Hold” from the eight research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $39.43.
Several analysts have issued reports on NSTG shares. Canaccord Genuity Group cut their price target on shares of NanoString Technologies from $50.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, April 13th. Canaccord Genuity Group decreased their price target on NanoString Technologies from $50.00 to $37.00 in a research note on Wednesday, April 13th. Cowen dropped their price objective on NanoString Technologies from $65.00 to $50.00 in a research note on Wednesday, April 13th. Morgan Stanley decreased their target price on shares of NanoString Technologies from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Cowen set a $33.00 price target on shares of NanoString Technologies in a research report on Tuesday, July 19th.
Institutional Trading of NanoString Technologies
Institutional investors and hedge funds have recently bought and sold shares of the company. Pinebridge Investments L.P. purchased a new stake in shares of NanoString Technologies during the 4th quarter valued at about $30,000. Advisor Group Holdings Inc. boosted its holdings in shares of NanoString Technologies by 15.0% in the fourth quarter. Advisor Group Holdings Inc. now owns 3,795 shares of the biotechnology company’s stock worth $160,000 after buying an additional 496 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of NanoString Technologies by 19.6% in the second quarter. Truist Financial Corp now owns 13,176 shares of the biotechnology company’s stock worth $168,000 after buying an additional 2,157 shares during the last quarter. Bailard Inc. purchased a new position in shares of NanoString Technologies in the fourth quarter worth approximately $211,000. Finally, Commonwealth Equity Services LLC purchased a new position in shares of NanoString Technologies in the first quarter worth approximately $211,000.
NanoString Technologies Stock Performance
Shares of NSTG traded down $0.05 during trading hours on Monday, hitting $15.35. The company’s stock had a trading volume of 7,067 shares, compared to its average volume of 770,091. The company has a market cap of $712.49 million, a price-to-earnings ratio of -5.09 and a beta of 1.92. The company has a debt-to-equity ratio of 1.55, a current ratio of 7.81 and a quick ratio of 7.11. The business has a 50 day simple moving average of $13.66 and a two-hundred day simple moving average of $23.15. NanoString Technologies has a 52-week low of $11.12 and a 52-week high of $62.56.
NanoString Technologies (NASDAQ:NSTG – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The biotechnology company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.18). NanoString Technologies had a negative net margin of 97.45% and a negative return on equity of 80.13%. The firm had revenue of $32.22 million during the quarter, compared to the consensus estimate of $32.32 million. During the same quarter last year, the business posted ($0.60) earnings per share. NanoString Technologies’s revenue was down 4.9% compared to the same quarter last year. On average, equities analysts expect that NanoString Technologies will post -2.49 earnings per share for the current fiscal year.
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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