Robert W. Baird Raises NanoString Technologies (NASDAQ:NSTG) Price Target to $70.00

NanoString Technologies (NASDAQ:NSTG) had its target price upped by Robert W. Baird from $60.00 to $70.00 in a research report sent to investors on Monday, The Fly reports. They currently have an outperform rating on the biotechnology company’s stock.

Several other equities analysts have also commented on the stock. JPMorgan Chase & Co. upped their price target on shares of NanoString Technologies from $45.00 to $60.00 in a research report on Wednesday, December 2nd. Cowen upgraded shares of NanoString Technologies from a market perform rating to an outperform rating and set a $75.00 price target for the company in a research report on Wednesday, January 6th. BidaskClub lowered shares of NanoString Technologies from a strong-buy rating to a buy rating in a research report on Wednesday, December 30th. Finally, Morgan Stanley upped their price target on shares of NanoString Technologies from $44.00 to $55.00 and gave the stock an equal weight rating in a research report on Thursday, December 3rd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $52.29.

NSTG stock opened at $71.72 on Monday. The company has a debt-to-equity ratio of 1.66, a current ratio of 8.94 and a quick ratio of 8.12. NanoString Technologies has a 1-year low of $13.85 and a 1-year high of $75.35. The firm has a fifty day moving average price of $64.55 and a two-hundred day moving average price of $45.66. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of -41.94 and a beta of 1.72.

NanoString Technologies (NASDAQ:NSTG) last released its earnings results on Monday, November 9th. The biotechnology company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.05. NanoString Technologies had a negative net margin of 53.47% and a negative return on equity of 68.96%. The firm had revenue of $31.85 million during the quarter, compared to analyst estimates of $30.13 million. As a group, analysts expect that NanoString Technologies will post -2.77 EPS for the current fiscal year.

In other NanoString Technologies news, Director Gregory Norden sold 10,406 shares of the company’s stock in a transaction dated Monday, December 7th. The shares were sold at an average price of $58.32, for a total value of $606,877.92. Following the completion of the sale, the director now directly owns 12,296 shares of the company’s stock, valued at approximately $717,102.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kirk Malloy sold 2,500 shares of the company’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $40.96, for a total transaction of $102,400.00. Following the completion of the sale, the director now directly owns 1,990 shares of the company’s stock, valued at $81,510.40. The disclosure for this sale can be found here. Insiders sold a total of 22,843 shares of company stock valued at $1,265,821 over the last three months. 4.20% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of NSTG. FMR LLC lifted its holdings in NanoString Technologies by 87.9% in the 2nd quarter. FMR LLC now owns 5,631,792 shares of the biotechnology company’s stock valued at $165,293,000 after acquiring an additional 2,634,024 shares during the last quarter. Polar Capital LLP increased its holdings in NanoString Technologies by 70.0% in the third quarter. Polar Capital LLP now owns 850,000 shares of the biotechnology company’s stock worth $37,995,000 after buying an additional 350,000 shares during the last quarter. ARK Investment Management LLC increased its holdings in NanoString Technologies by 9.7% in the third quarter. ARK Investment Management LLC now owns 3,822,106 shares of the biotechnology company’s stock worth $170,848,000 after buying an additional 337,295 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in NanoString Technologies by 6,163.8% in the third quarter. Great West Life Assurance Co. Can now owns 198,000 shares of the biotechnology company’s stock worth $26,000 after buying an additional 194,839 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in NanoString Technologies by 9.8% in the second quarter. Vanguard Group Inc. now owns 1,977,018 shares of the biotechnology company’s stock worth $58,026,000 after buying an additional 177,194 shares during the last quarter. 78.22% of the stock is owned by institutional investors.

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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The Fly

Analyst Recommendations for NanoString Technologies (NASDAQ:NSTG)

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