Analysts Expect NanoString Technologies Inc (NSTG) Will Post Quarterly Sales of $25.90 Million

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Equities research analysts forecast that NanoString Technologies Inc (NASDAQ:NSTG) will post sales of $25.90 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for NanoString Technologies’ earnings. The lowest sales estimate is $25.81 million and the highest is $25.99 million. NanoString Technologies reported sales of $27.02 million during the same quarter last year, which indicates a negative year-over-year growth rate of 4.1%. The company is expected to report its next quarterly earnings results after the market closes on Thursday, November 8th.

According to Zacks, analysts expect that NanoString Technologies will report full-year sales of $105.74 million for the current year, with estimates ranging from $105.44 million to $106.22 million. For the next fiscal year, analysts forecast that the company will report sales of $123.06 million, with estimates ranging from $119.13 million to $128.99 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow NanoString Technologies.

NanoString Technologies (NASDAQ:NSTG) last announced its quarterly earnings results on Tuesday, August 7th. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.71) by ($0.09). The company had revenue of $25.00 million for the quarter, compared to the consensus estimate of $25.10 million. NanoString Technologies had a negative return on equity of 201.90% and a negative net margin of 54.34%.

A number of research analysts have issued reports on the company. ValuEngine upgraded NanoString Technologies from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 12th. Morgan Stanley upped their price objective on NanoString Technologies from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 10th. UBS Group assumed coverage on NanoString Technologies in a research note on Tuesday, October 9th. They issued a “buy” rating and a $23.00 price objective for the company. Zacks Investment Research downgraded NanoString Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, BidaskClub downgraded NanoString Technologies from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $19.60.

NASDAQ:NSTG traded down $0.43 during trading on Friday, reaching $15.16. The company’s stock had a trading volume of 98,800 shares, compared to its average volume of 245,481. The company has a market capitalization of $473.92 million, a PE ratio of -8.24 and a beta of 0.46. The company has a debt-to-equity ratio of 5.77, a current ratio of 2.49 and a quick ratio of 2.01. NanoString Technologies has a 12 month low of $5.87 and a 12 month high of $18.86.

In other NanoString Technologies news, SVP Mary Tedd Allen sold 26,895 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $17.60, for a total value of $473,352.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nicholas Galakatos sold 85,823 shares of the stock in a transaction on Monday, September 17th. The stock was sold at an average price of $15.99, for a total value of $1,372,309.77. The disclosure for this sale can be found here. 20.90% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of NanoString Technologies by 3,422.3% during the 1st quarter. JPMorgan Chase & Co. now owns 156,214 shares of the biotechnology company’s stock worth $1,173,000 after acquiring an additional 151,779 shares during the period. ARK Investment Management LLC grew its stake in shares of NanoString Technologies by 17.5% during the 2nd quarter. ARK Investment Management LLC now owns 2,625,472 shares of the biotechnology company’s stock worth $35,916,000 after acquiring an additional 391,070 shares during the period. Algert Global LLC grew its stake in shares of NanoString Technologies by 8.4% during the 2nd quarter. Algert Global LLC now owns 222,902 shares of the biotechnology company’s stock worth $3,049,000 after acquiring an additional 17,290 shares during the period. Platinum Investment Management Ltd. grew its stake in shares of NanoString Technologies by 66.0% during the 1st quarter. Platinum Investment Management Ltd. now owns 200,800 shares of the biotechnology company’s stock worth $1,508,000 after acquiring an additional 79,800 shares during the period. Finally, Metropolitan Life Insurance Co. NY bought a new position in shares of NanoString Technologies during the 2nd quarter worth $108,000. Institutional investors own 73.34% of the company’s stock.

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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