NanoString Technologies (NSTG) Expected to Post Earnings of -$0.76 Per Share

Wall Street brokerages forecast that NanoString Technologies (NASDAQ:NSTG) will announce earnings of ($0.76) per share for the current quarter, according to Zacks. Three analysts have provided estimates for NanoString Technologies’ earnings, with the highest EPS estimate coming in at ($0.71) and the lowest estimate coming in at ($0.83). NanoString Technologies reported earnings per share of ($0.87) during the same quarter last year, which suggests a positive year-over-year growth rate of 12.6%. The company is expected to report its next earnings results after the market closes on Tuesday, May 8th.

On average, analysts expect that NanoString Technologies will report full-year earnings of ($2.79) per share for the current year, with EPS estimates ranging from ($2.87) to ($2.75). For the next year, analysts expect that the firm will post earnings of ($2.16) per share, with EPS estimates ranging from ($2.83) to ($1.86). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for NanoString Technologies.

How to Become a New Pot Stock Millionaire

NanoString Technologies (NASDAQ:NSTG) last announced its quarterly earnings data on Wednesday, March 7th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.08. NanoString Technologies had a negative net margin of 37.91% and a negative return on equity of 129.90%. The business had revenue of $35.20 million during the quarter, compared to analyst estimates of $31.57 million. During the same period last year, the firm posted ($0.55) EPS. The company’s revenue was up 39.7% on a year-over-year basis.

A number of brokerages have issued reports on NSTG. ValuEngine lowered shares of NanoString Technologies from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $12.00 price objective (down from $13.00) on shares of NanoString Technologies in a report on Thursday, March 8th. Finally, Zacks Investment Research raised shares of NanoString Technologies from a “hold” rating to a “buy” rating and set a $8.25 price objective for the company in a report on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $13.06.

In related news, Director William Young acquired 30,000 shares of the business’s stock in a transaction on Tuesday, March 13th. The stock was acquired at an average cost of $6.91 per share, with a total value of $207,300.00. Following the acquisition, the director now directly owns 30,000 shares in the company, valued at approximately $207,300. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 24.40% of the company’s stock.

Several hedge funds have recently bought and sold shares of NSTG. State Street Corp grew its holdings in shares of NanoString Technologies by 13.4% in the second quarter. State Street Corp now owns 261,864 shares of the biotechnology company’s stock valued at $4,332,000 after purchasing an additional 30,864 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of NanoString Technologies by 25.2% in the second quarter. The Manufacturers Life Insurance Company now owns 15,542 shares of the biotechnology company’s stock valued at $257,000 after purchasing an additional 3,132 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of NanoString Technologies by 1.3% in the second quarter. California State Teachers Retirement System now owns 31,367 shares of the biotechnology company’s stock valued at $519,000 after purchasing an additional 400 shares in the last quarter. Nationwide Fund Advisors grew its holdings in shares of NanoString Technologies by 17.1% in the third quarter. Nationwide Fund Advisors now owns 48,125 shares of the biotechnology company’s stock valued at $778,000 after purchasing an additional 7,027 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of NanoString Technologies in the third quarter valued at $240,000. 91.96% of the stock is owned by hedge funds and other institutional investors.

NSTG traded up $0.38 during trading on Wednesday, reaching $9.12. 287,081 shares of the company traded hands, compared to its average volume of 238,437. The company has a quick ratio of 2.84, a current ratio of 3.40 and a debt-to-equity ratio of 1.22. NanoString Technologies has a 12-month low of $5.87 and a 12-month high of $19.68.

ILLEGAL ACTIVITY NOTICE: This piece was first reported by Week Herald and is the property of of Week Herald. If you are viewing this piece on another publication, it was stolen and reposted in violation of U.S. and international copyright legislation. The correct version of this piece can be viewed at https://weekherald.com/2018/04/19/nanostring-technologies-nstg-expected-to-post-earnings-of-0-76-per-share.html.

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.

Get a free copy of the Zacks research report on NanoString Technologies (NSTG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for NanoString Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NanoString Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply