NanoString Technologies (NASDAQ:NSTG – Get Rating) issued its earnings results on Thursday. The biotechnology company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.18), Briefing.com reports. The business had revenue of $32.22 million during the quarter, compared to analysts’ expectations of $32.32 million. NanoString Technologies had a negative return on equity of 68.57% and a negative net margin of 87.89%. NanoString Technologies’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.60) EPS.
NanoString Technologies Stock Up 4.5 %
NanoString Technologies stock traded up $0.67 during trading hours on Friday, hitting $15.40. The stock had a trading volume of 1,547,269 shares, compared to its average volume of 770,092. The company has a quick ratio of 7.11, a current ratio of 7.81 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $714.81 million, a P/E ratio of -5.52 and a beta of 1.92. NanoString Technologies has a 12-month low of $11.12 and a 12-month high of $62.56. The stock’s 50-day moving average price is $13.66 and its 200-day moving average price is $23.27.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on NSTG shares. Canaccord Genuity Group decreased their price objective on shares of NanoString Technologies from $50.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, April 13th. Cowen cut their target price on shares of NanoString Technologies from $65.00 to $50.00 in a research note on Wednesday, April 13th. Canaccord Genuity Group dropped their price objective on shares of NanoString Technologies from $50.00 to $37.00 in a research note on Wednesday, April 13th. Robert W. Baird dropped their price objective on shares of NanoString Technologies from $30.00 to $21.00 in a research note on Friday. Finally, Cowen set a $33.00 price objective on shares of NanoString Technologies in a research note on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, NanoString Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $41.33.
Institutional Inflows and Outflows
About NanoString Technologies
NanoString Technologies, Inc develops, manufactures, and sells tools for scientific and clinical research in the fields of genomics and proteomics in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system.
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