Wall Street brokerages forecast that NanoString Technologies Inc (NASDAQ:NSTG) will report $34.10 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for NanoString Technologies’ earnings. The highest sales estimate is $34.53 million and the lowest is $33.86 million. NanoString Technologies reported sales of $30.03 million in the same quarter last year, which would suggest a positive year over year growth rate of 13.6%. The firm is scheduled to issue its next earnings report on Thursday, March 5th.
On average, analysts expect that NanoString Technologies will report full year sales of $122.75 million for the current fiscal year, with estimates ranging from $122.49 million to $123.17 million. For the next financial year, analysts anticipate that the firm will post sales of $131.45 million, with estimates ranging from $129.18 million to $135.26 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for NanoString Technologies.
NanoString Technologies (NASDAQ:NSTG) last released its quarterly earnings results on Monday, November 4th. The biotechnology company reported ($0.64) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.54) by ($0.10). The firm had revenue of $30.60 million for the quarter, compared to the consensus estimate of $28.05 million. NanoString Technologies had a negative net margin of 72.30% and a negative return on equity of 118.32%.
A number of analysts have recently commented on the stock. Stifel Nicolaus started coverage on shares of NanoString Technologies in a report on Thursday, November 14th. They set a “buy” rating and a $28.00 target price on the stock. Zacks Investment Research raised shares of NanoString Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday. BidaskClub upgraded shares of NanoString Technologies from a “hold” rating to a “buy” rating in a research note on Monday, November 25th. Finally, ValuEngine raised shares of NanoString Technologies from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $29.00.
NSTG traded up $0.04 during trading on Friday, reaching $26.49. The stock had a trading volume of 30,607 shares, compared to its average volume of 428,875. The company has a current ratio of 4.73, a quick ratio of 4.23 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $962.07 million, a price-to-earnings ratio of -9.53 and a beta of 1.16. The stock’s 50 day moving average is $23.65 and its two-hundred day moving average is $25.68. NanoString Technologies has a one year low of $13.26 and a one year high of $34.78.
In related news, Director William Young sold 24,125 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $24.86, for a total value of $599,747.50. Following the transaction, the director now owns 54,125 shares in the company, valued at approximately $1,345,547.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles P. Waite, Jr. sold 1,707 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $21.75, for a total transaction of $37,127.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,197 shares of company stock worth $1,570,126. Insiders own 5.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. James Investment Research Inc. purchased a new stake in NanoString Technologies during the 2nd quarter valued at $25,000. Strs Ohio raised its position in NanoString Technologies by 7.1% in the 2nd quarter. Strs Ohio now owns 28,500 shares of the biotechnology company’s stock worth $864,000 after buying an additional 1,900 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in NanoString Technologies by 101.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 946,219 shares of the biotechnology company’s stock worth $28,718,000 after buying an additional 477,313 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in NanoString Technologies during the 2nd quarter valued at about $1,125,000. Finally, Nikko Asset Management Americas Inc. lifted its stake in NanoString Technologies by 418.9% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 2,488,261 shares of the biotechnology company’s stock valued at $75,519,000 after acquiring an additional 2,008,747 shares during the period.
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.
Further Reading: What are different types of coverage ratios?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for NanoString Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NanoString Technologies and related companies with MarketBeat.com's FREE daily email newsletter.