NanoString Technologies (NASDAQ:NSTG) Cut to Buy at BidaskClub

BidaskClub downgraded shares of NanoString Technologies (NASDAQ:NSTG) from a strong-buy rating to a buy rating in a research report sent to investors on Friday morning, BidAskClub reports.

Several other research analysts have also recently weighed in on NSTG. Stifel Nicolaus reduced their price objective on NanoString Technologies from $38.00 to $35.00 and set a buy rating for the company in a research report on Thursday, April 2nd. ValuEngine raised NanoString Technologies from a hold rating to a buy rating in a research report on Tuesday, March 3rd. Robert W. Baird upped their price objective on NanoString Technologies from $29.00 to $34.00 and gave the stock an outperform rating in a research report on Monday, May 11th. UBS Group reduced their price objective on NanoString Technologies from $40.00 to $38.00 and set a buy rating for the company in a research report on Tuesday, April 28th. Finally, Zacks Investment Research cut NanoString Technologies from a hold rating to a sell rating in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $34.50.

NASDAQ:NSTG opened at $29.57 on Friday. NanoString Technologies has a 1 year low of $13.85 and a 1 year high of $36.43. The company has a debt-to-equity ratio of 1.43, a current ratio of 8.95 and a quick ratio of 8.32. The stock has a 50-day moving average price of $31.09 and a two-hundred day moving average price of $29.10.

NanoString Technologies (NASDAQ:NSTG) last posted its earnings results on Thursday, May 7th. The biotechnology company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.33). NanoString Technologies had a negative net margin of 46.13% and a negative return on equity of 73.44%. The business had revenue of $26.61 million during the quarter, compared to analyst estimates of $24.67 million. Research analysts expect that NanoString Technologies will post -2.49 earnings per share for the current fiscal year.

In related news, Director Kirk Malloy sold 1,000 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $25.61, for a total transaction of $25,610.00. Following the completion of the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at $25,610. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles P. Waite, Jr. sold 1,734 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $30.17, for a total value of $52,314.78. Following the transaction, the director now directly owns 1,734 shares of the company’s stock, valued at $52,314.78. The disclosure for this sale can be found here. Insiders have sold 12,097 shares of company stock valued at $382,716 over the last three months. Insiders own 5.10% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. State Street Corp raised its stake in NanoString Technologies by 2.3% in the first quarter. State Street Corp now owns 694,719 shares of the biotechnology company’s stock valued at $16,708,000 after buying an additional 15,363 shares during the period. Sandler Capital Management bought a new stake in NanoString Technologies in the first quarter valued at approximately $6,275,000. Advisor Group Holdings Inc. bought a new stake in NanoString Technologies in the first quarter valued at approximately $30,000. Orbimed Advisors LLC bought a new stake in NanoString Technologies in the first quarter valued at approximately $28,677,000. Finally, Caxton Associates LP bought a new stake in NanoString Technologies in the first quarter valued at approximately $235,000.

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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