NanoString Technologies (NSTG) Announces Earnings Results, Misses Expectations By $0.04 EPS

NanoString Technologies (NASDAQ:NSTG) issued its quarterly earnings results on Thursday. The biotechnology company reported ($0.69) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.65) by ($0.04), Morningstar.com reports. The business had revenue of $27.69 million for the quarter, compared to the consensus estimate of $25.42 million. NanoString Technologies had a negative return on equity of 246.30% and a negative net margin of 71.94%.

NASDAQ:NSTG opened at $28.99 on Friday. The company has a quick ratio of 2.75, a current ratio of 3.05 and a debt-to-equity ratio of 1.58. NanoString Technologies has a 1 year low of $10.27 and a 1 year high of $31.14.

A number of brokerages recently commented on NSTG. BidaskClub upgraded NanoString Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. Zacks Investment Research raised NanoString Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, April 13th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $35.00 target price on shares of NanoString Technologies in a research report on Friday, March 8th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. NanoString Technologies currently has a consensus rating of “Buy” and an average target price of $25.00.

In other NanoString Technologies news, SVP Mary Tedd Allen sold 2,941 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $25.91, for a total value of $76,201.31. Following the completion of the sale, the senior vice president now directly owns 24,996 shares of the company’s stock, valued at $647,646.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Lifesciences Ii L.P. Clarus sold 2,000,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $21.62, for a total value of $43,240,000.00. The disclosure for this sale can be found here. Insiders sold 2,063,141 shares of company stock valued at $43,337,901 over the last three months. Company insiders own 20.90% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in NSTG. Legal & General Group Plc grew its position in shares of NanoString Technologies by 28.4% in the third quarter. Legal & General Group Plc now owns 3,800 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 840 shares in the last quarter. Pearl River Capital LLC purchased a new position in shares of NanoString Technologies in the first quarter valued at $76,000. First Mercantile Trust Co. purchased a new position in shares of NanoString Technologies in the first quarter valued at $122,000. BNP Paribas Arbitrage SA boosted its stake in NanoString Technologies by 67,950.0% during the first quarter. BNP Paribas Arbitrage SA now owns 5,444 shares of the biotechnology company’s stock valued at $130,000 after buying an additional 5,436 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its stake in NanoString Technologies by 430.9% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 8,893 shares of the biotechnology company’s stock valued at $132,000 after buying an additional 7,218 shares during the period. Institutional investors own 79.90% of the company’s stock.

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NanoString Technologies Company Profile

NanoString Technologies, Inc engages in the provision of life science tools for translational research and molecular diagnostic products. It offers analysis solutions, gene expression panels, protein assays, DNA Assaya, miRNA assays, vantage 3D assays, custom solutions, sample prep and nCounter consumables, and nDesign gateway.

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Earnings History for NanoString Technologies (NASDAQ:NSTG)

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