Analysts Set NanoString Technologies Inc (NSTG) PT at $19.75

NanoString Technologies Inc (NASDAQ:NSTG) has been given a consensus rating of “Buy” by the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $19.75.

NSTG has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on NanoString Technologies from $12.00 to $16.00 and gave the company an “equal weight” rating in a research report on Friday, July 13th. ValuEngine cut NanoString Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, July 19th. Zacks Investment Research raised NanoString Technologies from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research report on Tuesday, August 7th. Robert W. Baird lifted their price target on shares of NanoString Technologies from $15.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, September 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of NanoString Technologies to $20.00 and gave the company an “overweight” rating in a report on Thursday, September 13th.

In other news, SVP Mary Tedd Allen sold 26,895 shares of the business’s stock in a transaction dated 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 SEC, which can be accessed through this hyperlink. Also, Director Nicholas Galakatos sold 85,823 shares of the business’s stock in a transaction dated Monday, September 17th. The shares were 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 currently owned by insiders.



Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in NanoString Technologies by 3,422.3% in the 1st quarter. JPMorgan Chase & Co. now owns 156,214 shares of the biotechnology company’s stock worth $1,173,000 after purchasing an additional 151,779 shares in the last quarter. ARK Investment Management LLC lifted its holdings in NanoString Technologies by 17.5% in the 2nd quarter. ARK Investment Management LLC now owns 2,625,472 shares of the biotechnology company’s stock worth $35,916,000 after purchasing an additional 391,070 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new position in shares of NanoString Technologies in the second quarter worth $108,000. Algert Global LLC lifted its holdings in shares of NanoString Technologies by 8.4% in the second quarter. Algert Global LLC now owns 222,902 shares of the biotechnology company’s stock worth $3,049,000 after buying an additional 17,290 shares in the last quarter. Finally, MetLife Investment Advisors LLC purchased a new position in shares of NanoString Technologies in the second quarter worth $155,000. Institutional investors and hedge funds own 73.35% of the company’s stock.

NASDAQ NSTG opened at $14.26 on Tuesday. The firm has a market cap of $451.58 million, a P/E ratio of -7.75 and a beta of 0.46. The company has a current ratio of 2.49, a quick ratio of 2.01 and a debt-to-equity ratio of 5.77. NanoString Technologies has a fifty-two week low of $5.87 and a fifty-two week high of $18.86.

NanoString Technologies (NASDAQ:NSTG) last released its earnings results on Tuesday, August 7th. The biotechnology company reported ($0.80) earnings per share 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 analysts’ expectations of $25.10 million. NanoString Technologies had a negative net margin of 54.34% and a negative return on equity of 201.90%. On average, equities research analysts anticipate that NanoString Technologies will post -2.64 EPS for the current year.

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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