NanoString Technologies (NASDAQ:NSTG) Updates FY 2019 Earnings Guidance

NanoString Technologies (NASDAQ:NSTG) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $-2.4–2.2 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-2.24. The company issued revenue guidance of $118-123 million, compared to the consensus revenue estimate of $120.83 million.

Shares of NSTG stock traded down $0.09 during mid-day trading on Wednesday, reaching $32.86. 573,000 shares of the company’s stock traded hands, compared to its average volume of 513,126. NanoString Technologies has a 12 month low of $11.35 and a 12 month high of $34.16. The firm has a market cap of $1.15 billion, a P/E ratio of -11.82 and a beta of 1.14. The company has a current ratio of 4.83, a quick ratio of 4.48 and a debt-to-equity ratio of 0.92. The firm’s 50-day simple moving average is $29.20.

NanoString Technologies (NASDAQ:NSTG) last announced its earnings results on Thursday, May 9th. The biotechnology company reported ($0.69) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.65) by ($0.04). NanoString Technologies had a negative net margin of 71.94% and a negative return on equity of 166.73%. The business had revenue of $27.69 million for the quarter, compared to the consensus estimate of $25.42 million. On average, sell-side analysts expect that NanoString Technologies will post -2.21 EPS for the current year.

NSTG has been the subject of several recent analyst reports. Zacks Investment Research lowered NanoString Technologies from a buy rating to a hold rating in a research report on Thursday, July 11th. BidaskClub raised NanoString Technologies from a hold rating to a buy rating in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $24.60.

In other NanoString Technologies news, SVP Mary Tedd Allen sold 64,333 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $29.90, for a total value of $1,923,556.70. Following the completion of the transaction, the senior vice president now owns 55,433 shares of the company’s stock, valued at approximately $1,657,446.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP David W. Ghesquiere sold 6,954 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $29.41, for a total value of $204,517.14. Following the completion of the transaction, the senior vice president now directly owns 44,868 shares of the company’s stock, valued at approximately $1,319,567.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 121,287 shares of company stock valued at $3,457,574. 5.10% of the stock is owned by insiders.

About NanoString Technologies

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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