Analysts Expect NanoString Technologies Inc (NSTG) to Post -$0.65 Earnings Per Share

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Analysts forecast that NanoString Technologies Inc (NASDAQ:NSTG) will post ($0.65) earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for NanoString Technologies’ earnings, with the highest EPS estimate coming in at ($0.63) and the lowest estimate coming in at ($0.67). NanoString Technologies reported earnings of ($0.75) per share during the same quarter last year, which indicates a positive year over year growth rate of 13.3%. The business is expected to announce its next earnings results after the market closes on Thursday, May 9th.

According to Zacks, analysts expect that NanoString Technologies will report full year earnings of ($2.36) per share for the current fiscal year, with EPS estimates ranging from ($2.42) to ($2.24). For the next financial year, analysts expect that the company will report earnings of ($2.15) per share, with EPS estimates ranging from ($2.78) to ($1.78). Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow NanoString Technologies.

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

A number of analysts recently weighed in on NSTG shares. Zacks Investment Research raised shares of NanoString Technologies from a “sell” rating to a “hold” rating in a research note on Saturday. BidaskClub cut shares of NanoString Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, January 24th. ValuEngine cut shares of NanoString Technologies from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 18th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $35.00 price objective on shares of NanoString Technologies in a research note on Friday, March 8th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $22.80.

In other news, SVP Mary Tedd Allen sold 2,941 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $25.91, for a total transaction of $76,201.31. Following the transaction, the senior vice president now directly owns 24,996 shares in the company, valued at $647,646.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R Bradley Gray sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $22.28, for a total transaction of $445,600.00. The disclosure for this sale can be found here. Insiders have sold 2,088,141 shares of company stock worth $43,896,351 over the last ninety days. Insiders own 20.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Legal & General Group Plc lifted 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 purchasing an additional 840 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted 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 purchasing an additional 7,218 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of NanoString Technologies during the fourth quarter worth approximately $151,000. AQR Capital Management LLC acquired a new position in shares of NanoString Technologies during the third quarter worth approximately $294,000. Finally, MetLife Investment Advisors LLC lifted its position in shares of NanoString Technologies by 55.2% during the third 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. Institutional investors own 87.94% of the company’s stock.

NASDAQ NSTG opened at $24.58 on Friday. The stock has a market capitalization of $780.86 million, a P/E ratio of -8.84 and a beta of 1.30. NanoString Technologies has a twelve month low of $8.97 and a twelve month high of $31.14. The company has a current ratio of 3.05, a quick ratio of 2.75 and a debt-to-equity ratio of 1.58.

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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