Brokerages Set NanoString Technologies Inc (NSTG) Target Price at $16.00
NanoString Technologies Inc (NASDAQ:NSTG) has been assigned a consensus rating of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $16.00.
A number of research analysts recently commented on the company. ValuEngine cut NanoString Technologies from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Zacks Investment Research cut NanoString Technologies from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Finally, Robert W. Baird decreased their price objective on NanoString Technologies from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, November 3rd.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NSTG. Levin Capital Strategies L.P. lifted its stake in NanoString Technologies by 35.5% during the fourth quarter. Levin Capital Strategies L.P. now owns 1,273,146 shares of the biotechnology company’s stock worth $9,510,000 after purchasing an additional 333,525 shares in the last quarter. ARK Investment Management LLC lifted its stake in NanoString Technologies by 301.2% during the fourth quarter. ARK Investment Management LLC now owns 1,138,821 shares of the biotechnology company’s stock worth $8,507,000 after purchasing an additional 854,963 shares in the last quarter. Vanguard Group Inc. lifted its stake in NanoString Technologies by 27.9% during the second quarter. Vanguard Group Inc. now owns 752,699 shares of the biotechnology company’s stock worth $12,449,000 after purchasing an additional 164,141 shares in the last quarter. Neuberger Berman Group LLC acquired a new position in NanoString Technologies during the third quarter worth $9,677,000. Finally, Altrinsic Global Advisors LLC lifted its stake in NanoString Technologies by 54.3% during the fourth quarter. Altrinsic Global Advisors LLC now owns 483,111 shares of the biotechnology company’s stock worth $3,609,000 after purchasing an additional 170,000 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.
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About NanoString Technologies
NanoString Technologies, Inc develops, manufactures and sells intuitive products that unlock scientifically valuable and clinically actionable biologic information from minute amounts of tissue. The Company is engaged in the development, manufacture and commercialization of instruments, consumables and services for profiling the activity of hundreds of genes and proteins simultaneously from a single tissue sample.
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