NanoString Technologies (NSTG) Downgraded by BidaskClub

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BidaskClub lowered shares of NanoString Technologies (NASDAQ:NSTG) from a strong-buy rating to a buy rating in a report released on Saturday morning.

A number of other equities analysts also recently weighed in on NSTG. JPMorgan Chase & Co. boosted their target price on NanoString Technologies to $20.00 and gave the stock an overweight rating in a research note on Thursday. ValuEngine upgraded NanoString Technologies from a hold rating to a buy rating in a research note on Thursday, August 30th. Zacks Investment Research downgraded NanoString Technologies from a hold rating to a sell rating in a research note on Wednesday, June 6th. Robert W. Baird boosted their target price on NanoString Technologies from $15.00 to $18.00 and gave the stock an outperform rating in a research note on Tuesday, September 11th. Finally, Morgan Stanley boosted their target price on NanoString Technologies from $12.00 to $16.00 and gave the stock an equal weight rating in a research note on Friday, July 13th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. NanoString Technologies has a consensus rating of Buy and an average target price of $17.60.

Shares of NASDAQ NSTG opened at $17.15 on Friday. NanoString Technologies has a twelve month low of $5.87 and a twelve month high of $18.86. 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 (NASDAQ:NSTG) last announced its earnings results on Tuesday, August 7th. The biotechnology company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.09). NanoString Technologies had a negative return on equity of 201.90% and a negative net margin of 54.34%. The business had revenue of $25.00 million during the quarter, compared to analysts’ expectations of $25.10 million. equities research analysts predict that NanoString Technologies will post -2.61 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in NSTG. JPMorgan Chase & Co. lifted its stake in NanoString Technologies by 3,422.3% in the first quarter. JPMorgan Chase & Co. now owns 156,214 shares of the biotechnology company’s stock valued at $1,173,000 after purchasing an additional 151,779 shares during the last quarter. ARK Investment Management LLC lifted its stake in NanoString Technologies by 17.5% in the second quarter. ARK Investment Management LLC now owns 2,625,472 shares of the biotechnology company’s stock valued at $35,916,000 after purchasing an additional 391,070 shares during the last quarter. Algert Global LLC lifted its stake in NanoString Technologies by 8.4% in the second quarter. Algert Global LLC now owns 222,902 shares of the biotechnology company’s stock valued at $3,049,000 after purchasing an additional 17,290 shares during the last quarter. Platinum Investment Management Ltd. lifted its stake in NanoString Technologies by 66.0% in the first quarter. Platinum Investment Management Ltd. now owns 200,800 shares of the biotechnology company’s stock valued at $1,508,000 after purchasing an additional 79,800 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in NanoString Technologies by 12.7% in the first quarter. BlackRock Inc. now owns 1,788,262 shares of the biotechnology company’s stock valued at $13,430,000 after purchasing an additional 201,325 shares during the last quarter. Hedge funds and other 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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Analyst Recommendations for NanoString Technologies (NASDAQ:NSTG)

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