Zacks: Analysts Expect NanoString Technologies Inc (NASDAQ:NSTG) Will Post Quarterly Sales of $28.05 Million

Equities research analysts predict that NanoString Technologies Inc (NASDAQ:NSTG) will report $28.05 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for NanoString Technologies’ earnings, with the highest sales estimate coming in at $28.17 million and the lowest estimate coming in at $27.94 million. NanoString Technologies posted sales of $28.62 million in the same quarter last year, which suggests a negative year over year growth rate of 2%. The business is scheduled to announce its next quarterly earnings results on Thursday, November 14th.

According to Zacks, analysts expect that NanoString Technologies will report full year sales of $121.04 million for the current year, with estimates ranging from $120.95 million to $121.12 million. For the next fiscal year, analysts expect that the firm will report sales of $133.04 million, with estimates ranging from $131.72 million to $134.36 million. Zacks’ sales calculations are an average based on a survey of research firms that cover NanoString Technologies.

NanoString Technologies (NASDAQ:NSTG) last released its quarterly earnings results on Wednesday, July 31st. The biotechnology company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.02). The company had revenue of $30.35 million for the quarter, compared to analyst estimates of $29.00 million. NanoString Technologies had a negative return on equity of 118.03% and a negative net margin of 68.16%.

NSTG has been the topic of a number of recent research reports. BidaskClub cut NanoString Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Zacks Investment Research cut NanoString Technologies from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. NanoString Technologies has an average rating of “Buy” and a consensus price target of $24.60.

In related news, CEO R Bradley Gray sold 40,000 shares of NanoString Technologies stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $24.84, for a total transaction of $993,600.00. Following the sale, the chief executive officer now directly owns 89,905 shares in the company, valued at $2,233,240.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kirk Malloy sold 1,000 shares of NanoString Technologies stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $25.05, for a total transaction of $25,050.00. Following the sale, the director now owns 1,000 shares in the company, valued at $25,050. The disclosure for this sale can be found here. Insiders sold 147,912 shares of company stock worth $4,045,899 over the last quarter. 5.10% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of NSTG. Conestoga Capital Advisors LLC increased its stake in NanoString Technologies by 4.1% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 16,320 shares of the biotechnology company’s stock worth $495,000 after purchasing an additional 640 shares in the last quarter. Rhumbline Advisers boosted its position in NanoString Technologies by 2.4% during the 1st quarter. Rhumbline Advisers now owns 33,001 shares of the biotechnology company’s stock worth $790,000 after acquiring an additional 781 shares during the period. James Investment Research Inc. acquired a new stake in NanoString Technologies during the 2nd quarter worth about $25,000. Strs Ohio boosted its position in NanoString Technologies by 7.1% during the 2nd quarter. Strs Ohio now owns 28,500 shares of the biotechnology company’s stock worth $864,000 after acquiring an additional 1,900 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in NanoString Technologies by 28.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 9,079 shares of the biotechnology company’s stock worth $250,000 after acquiring an additional 1,989 shares during the period.

NSTG stock traded up $0.06 during mid-day trading on Thursday, reaching $26.58. The company had a trading volume of 328,500 shares, compared to its average volume of 523,065. The company has a quick ratio of 4.76, a current ratio of 5.21 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $886.10 million, a P/E ratio of -9.56 and a beta of 1.08. NanoString Technologies has a one year low of $13.26 and a one year high of $34.78. The stock’s 50-day simple moving average is $29.20 and its two-hundred day simple moving average is $26.58.

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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