Analysts Set NanoString Technologies Inc (NSTG) PT at $23.50

NanoString Technologies Inc (NASDAQ:NSTG) has been assigned a consensus rating of “Buy” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. Three research 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 company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $23.50.

NSTG has been the topic of several research reports. BidaskClub upgraded shares of NanoString Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $35.00 price objective on shares of NanoString Technologies in a report on Friday, March 8th. ValuEngine upgraded shares of NanoString Technologies from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 2nd. Finally, Zacks Investment Research lowered shares of NanoString Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, March 12th.

In other news, insider R Bradley Gray sold 20,000 shares of the business’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $22.28, for a total transaction of $445,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Lifesciences Ii L.P. Clarus sold 2,000,000 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $21.62, for a total transaction of $43,240,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,088,141 shares of company stock valued at $43,896,351. 20.90% of the stock is currently owned by insiders.



Large investors have recently bought and sold shares of the company. Legal & General Group Plc increased its position in shares of NanoString Technologies by 28.4% during the third quarter. Legal & General Group Plc now owns 3,800 shares of the biotechnology company’s stock worth $68,000 after acquiring an additional 840 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of NanoString Technologies by 430.9% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 8,893 shares of the biotechnology company’s stock worth $132,000 after acquiring an additional 7,218 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new stake in NanoString Technologies in the 4th quarter worth about $151,000. AQR Capital Management LLC bought a new stake in NanoString Technologies in the 3rd quarter worth about $294,000. Finally, MetLife Investment Advisors LLC grew its position in NanoString Technologies by 55.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 17,579 shares of the biotechnology company’s stock worth $313,000 after purchasing an additional 6,249 shares in the last quarter. 87.94% of the stock is owned by institutional investors.

Shares of NASDAQ NSTG traded up $1.20 during trading on Tuesday, hitting $25.12. 397,800 shares of the company traded hands, compared to its average volume of 520,755. NanoString Technologies has a fifty-two week low of $9.03 and a fifty-two week high of $31.14. The firm has a market capitalization of $737.03 million, a P/E ratio of -9.04 and a beta of 1.30. The company has a current ratio of 3.05, a quick ratio of 2.75 and a debt-to-equity ratio of 1.58.

NanoString Technologies (NASDAQ:NSTG) last announced its quarterly earnings data on Thursday, March 7th. The biotechnology company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.18). NanoString Technologies had a negative net margin of 72.52% and a negative return on equity of 252.59%. The company had revenue of $30.03 million for the quarter. Equities research analysts forecast that NanoString Technologies will post -2.36 EPS for the current year.

About NanoString Technologies

NanoString Technologies, Inc engages in the provision of life science tools for translational research and molecular diagnostic products. It offers analysis solutions, gene expression panels, protein assays, DNA Assaya, miRNA assays, vantage 3D assays, custom solutions, sample prep and nCounter consumables, and nDesign gateway.

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