NanoString Technologies (NASDAQ:NSTG) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of NanoString Technologies (NASDAQ:NSTG) from a sell rating to a hold rating in a report released on Friday morning, Zacks.com reports.

According to Zacks, “NanoString Technologies, Inc. is engaged in the development, manufacture and sale of life science tools. It provides nCounter Analysis System which supports research and development of clinical applications from basic discovery to the development of future molecular diagnostic tests on a single platform. The company also offers nSolver Analysis software, gene expression panels, miRNA expression assay kits, cancer copy number variation panels, nCounter leukemia fusion gene expression assay kits and human karyotype panels, custom CodeSets and master kits that are ancillary reagents, cartridges, tips and reagent plates to setup and process samples in its instruments. It markets its systems and related consumables to researchers in academic, government and biopharmaceutical laboratories primarily in North America, Europe, the Middle East and the Asia Pacific. NanoString Technologies, Inc. is headquartered in Seattle, Washington. “

Separately, BidaskClub downgraded shares of NanoString Technologies from a buy rating to a hold rating in a report on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $24.60.

NSTG opened at $28.25 on Friday. NanoString Technologies has a 52-week low of $13.26 and a 52-week high of $34.78. The company has a quick ratio of 4.76, a current ratio of 5.21 and a debt-to-equity ratio of 1.27. The company has a market cap of $942.10 million, a P/E ratio of -10.16 and a beta of 1.08. The firm’s 50-day moving average price is $29.05 and its 200-day moving average price is $26.60.

NanoString Technologies (NASDAQ:NSTG) last posted its quarterly earnings data on Wednesday, July 31st. The biotechnology company reported ($0.57) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by ($0.02). NanoString Technologies had a negative net margin of 68.16% and a negative return on equity of 118.03%. The company had revenue of $30.35 million for the quarter, compared to analyst estimates of $29.00 million. On average, research analysts anticipate that NanoString Technologies will post -2.35 EPS for the current fiscal year.

In related news, SVP David W. Ghesquiere sold 6,954 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $29.41, for a total value of $204,517.14. Following the transaction, the senior vice president now owns 44,868 shares in the company, valued at approximately $1,319,567.88. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Mary Tedd Allen sold 64,333 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $29.90, for a total transaction of $1,923,556.70. Following the completion of the transaction, the senior vice president now owns 55,433 shares in the company, valued at approximately $1,657,446.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 147,912 shares of company stock worth $4,045,899. Corporate insiders own 5.10% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. United Services Automobile Association acquired a new position in NanoString Technologies in the 2nd quarter worth approximately $228,000. Essex Investment Management Co. LLC acquired a new position in NanoString Technologies in the 2nd quarter worth approximately $1,604,000. Nuveen Asset Management LLC acquired a new position in NanoString Technologies in the 2nd quarter worth approximately $18,453,000. UBS Asset Management Americas Inc. acquired a new position in NanoString Technologies in the 2nd quarter worth approximately $612,000. Finally, Jane Street Group LLC acquired a new position in NanoString Technologies in the 2nd quarter worth approximately $363,000.

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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