NanoString Technologies (NSTG) Downgraded by ValuEngine

NanoString Technologies (NASDAQ:NSTG) was downgraded by ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday, December 18th.

Several other research analysts also recently issued reports on NSTG. BidaskClub downgraded NanoString Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 15th. JPMorgan Chase & Co. lifted their price objective on NanoString Technologies to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, September 13th. Zacks Investment Research upgraded NanoString Technologies from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Thursday, October 4th. Robert W. Baird lifted their price objective on NanoString Technologies from $15.00 to $18.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 11th. Finally, UBS Group began coverage on NanoString Technologies in a research report on Tuesday, October 9th. They set a “buy” rating and a $23.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $19.80.

Shares of NASDAQ NSTG traded up $0.94 during midday trading on Tuesday, reaching $21.19. 449,828 shares of the company were exchanged, compared to its average volume of 462,478. NanoString Technologies has a 1 year low of $5.87 and a 1 year high of $21.99. The firm has a market cap of $625.57 million, a P/E ratio of -11.52 and a beta of 0.71. The company has a quick ratio of 3.22, a current ratio of 3.62 and a debt-to-equity ratio of 0.96.

NanoString Technologies (NASDAQ:NSTG) last posted its quarterly earnings results on Thursday, November 8th. The biotechnology company reported ($0.56) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.57) by $0.01. NanoString Technologies had a negative net margin of 58.11% and a negative return on equity of 206.80%. The company had revenue of $28.62 million during the quarter, compared to the consensus estimate of $25.90 million. As a group, analysts anticipate that NanoString Technologies will post -2.59 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc raised its holdings in NanoString Technologies by 28.4% in the 3rd quarter. Legal & General Group Plc now owns 3,800 shares of the biotechnology company’s stock valued at $68,000 after acquiring an additional 840 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in NanoString Technologies in the 2nd quarter valued at $108,000. MetLife Investment Advisors LLC acquired a new position in NanoString Technologies in the 2nd quarter valued at $155,000. Engineers Gate Manager LP acquired a new position in NanoString Technologies in the 2nd quarter valued at $261,000. Finally, GSA Capital Partners LLP acquired a new position in NanoString Technologies in the 2nd quarter valued at $271,000. Institutional investors own 88.99% of the company’s stock.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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