BidaskClub downgraded shares of NanoString Technologies (NASDAQ:NSTG) from a strong-buy rating to a buy rating in a research note published on Friday morning, BidAskClub reports.

Several other analysts have also issued reports on the stock. ValuEngine upgraded shares of NanoString Technologies from a hold rating to a buy rating in a research note on Tuesday, March 3rd. Robert W. Baird increased their price target on shares of NanoString Technologies from $29.00 to $34.00 and gave the company an outperform rating in a research report on Monday, May 11th. Stifel Nicolaus reduced their price target on shares of NanoString Technologies from $38.00 to $35.00 and set a buy rating for the company in a research report on Thursday, April 2nd. Zacks Investment Research lowered shares of NanoString Technologies from a hold rating to a sell rating in a research report on Wednesday, June 17th. Finally, UBS Group reduced their price target on shares of NanoString Technologies from $40.00 to $38.00 and set a buy rating for the company in a research report on Tuesday, April 28th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $34.50.

NSTG opened at $29.57 on Friday. The company has a current ratio of 8.95, a quick ratio of 8.32 and a debt-to-equity ratio of 1.43. The company’s fifty day moving average price is $31.03 and its two-hundred day moving average price is $29.16. NanoString Technologies has a 1-year low of $13.85 and a 1-year high of $36.43. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -18.03 and a beta of 1.27.

NanoString Technologies (NASDAQ:NSTG) last posted its earnings results on Thursday, May 7th. The biotechnology company reported ($0.85) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.52) by ($0.33). NanoString Technologies had a negative return on equity of 73.44% and a negative net margin of 46.13%. The firm had revenue of $26.61 million during the quarter, compared to the consensus estimate of $24.67 million. As a group, equities analysts forecast that NanoString Technologies will post -2.49 earnings per share for the current fiscal year.

In other news, Director Robert Hershberg sold 1,500 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $30.79, for a total value of $46,185.00. Following the sale, the director now directly owns 1,890 shares of the company’s stock, valued at $58,193.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kirk Malloy sold 1,000 shares of the stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $25.61, for a total transaction of $25,610.00. Following the completion of the sale, the director now directly owns 1,000 shares in the company, valued at $25,610. The disclosure for this sale can be found here. Insiders have sold 12,097 shares of company stock valued at $382,716 in the last quarter. Company insiders own 5.10% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in shares of NanoString Technologies by 265.9% in the first quarter. Wellington Management Group LLP now owns 2,560,499 shares of the biotechnology company’s stock worth $61,580,000 after buying an additional 1,860,727 shares in the last quarter. Orbimed Advisors LLC purchased a new stake in shares of NanoString Technologies in the first quarter worth about $28,677,000. Pictet Asset Management Ltd. lifted its holdings in shares of NanoString Technologies by 21.0% in the fourth quarter. Pictet Asset Management Ltd. now owns 939,816 shares of the biotechnology company’s stock worth $26,146,000 after buying an additional 163,093 shares in the last quarter. State Street Corp lifted its holdings in shares of NanoString Technologies by 2.3% in the first quarter. State Street Corp now owns 694,719 shares of the biotechnology company’s stock worth $16,708,000 after buying an additional 15,363 shares in the last quarter. Finally, Frontier Capital Management Co. LLC lifted its holdings in shares of NanoString Technologies by 5.6% in the first quarter. Frontier Capital Management Co. LLC now owns 687,850 shares of the biotechnology company’s stock worth $16,543,000 after buying an additional 36,449 shares in 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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