NanoString Technologies (NASDAQ:NSTG) Upgraded to Strong-Buy by BidaskClub

NanoString Technologies (NASDAQ:NSTG) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Friday, BidAskClub reports.

Other equities analysts have also recently issued reports about the stock. ValuEngine upgraded shares of NanoString Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, March 3rd. Zacks Investment Research upgraded shares of NanoString Technologies from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Wednesday, February 5th.

Shares of NASDAQ:NSTG opened at $26.84 on Friday. The firm has a 50 day moving average of $29.96 and a 200-day moving average of $26.35. The stock has a market capitalization of $933.14 million, a PE ratio of -20.81 and a beta of 0.80. The company has a current ratio of 4.73, a quick ratio of 4.29 and a debt-to-equity ratio of 1.05. NanoString Technologies has a 12 month low of $13.85 and a 12 month high of $36.43.

NanoString Technologies (NASDAQ:NSTG) last issued its earnings results on Wednesday, February 26th. The biotechnology company reported ($0.59) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.01. The company had revenue of $36.93 million during the quarter, compared to analysts’ expectations of $35.23 million. NanoString Technologies had a negative net margin of 32.41% and a negative return on equity of 78.73%. On average, research analysts predict that NanoString Technologies will post -1.68 EPS for the current fiscal year.

In related news, SVP David W. Ghesquiere sold 19,279 shares of NanoString Technologies stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $29.07, for a total transaction of $560,440.53. Following the sale, the senior vice president now directly owns 54,469 shares of the company’s stock, valued at approximately $1,583,413.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David W. Ghesquiere sold 22,000 shares of NanoString Technologies stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $35.09, for a total transaction of $771,980.00. Following the sale, the senior vice president now directly owns 76,169 shares in the company, valued at $2,672,770.21. The disclosure for this sale can be found here. Insiders have sold a total of 88,839 shares of company stock worth $2,848,942 over the last ninety days. 5.10% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. Nuveen Asset Management LLC grew its holdings in shares of NanoString Technologies by 4.1% during the 4th quarter. Nuveen Asset Management LLC now owns 266,877 shares of the biotechnology company’s stock valued at $7,424,000 after purchasing an additional 10,424 shares during the last quarter. Geode Capital Management LLC grew its holdings in NanoString Technologies by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 451,011 shares of the biotechnology company’s stock worth $12,547,000 after acquiring an additional 15,351 shares during the last quarter. UBS Asset Management Americas Inc. grew its holdings in NanoString Technologies by 1,777.5% during the 4th quarter. UBS Asset Management Americas Inc. now owns 525,623 shares of the biotechnology company’s stock worth $14,623,000 after acquiring an additional 497,627 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in NanoString Technologies by 56.5% during the 4th quarter. Bank of New York Mellon Corp now owns 310,189 shares of the biotechnology company’s stock worth $8,630,000 after acquiring an additional 111,957 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in NanoString Technologies by 28.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 114,295 shares of the biotechnology company’s stock worth $3,180,000 after acquiring an additional 25,503 shares during the last quarter.

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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