NanoString Technologies (NASDAQ:NSTG) Issues Quarterly Earnings Results

NanoString Technologies (NASDAQ:NSTGGet Rating) released its quarterly earnings results on Thursday. The biotechnology company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.18), Briefing.com reports. The firm had revenue of $32.22 million for the quarter, compared to analyst estimates of $32.32 million. NanoString Technologies had a negative return on equity of 68.57% and a negative net margin of 87.89%. The company’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period last year, the firm earned ($0.60) EPS.

NanoString Technologies Price Performance

NSTG traded up $0.67 during trading on Friday, reaching $15.40. 1,547,269 shares of the stock were exchanged, compared to its average volume of 770,092. The business’s 50 day moving average price is $13.66 and its two-hundred day moving average price is $23.27. The company has a debt-to-equity ratio of 1.55, a current ratio of 7.81 and a quick ratio of 7.11. The company has a market capitalization of $714.81 million, a price-to-earnings ratio of -5.52 and a beta of 1.92. NanoString Technologies has a 1 year low of $11.12 and a 1 year high of $62.56.

Institutional Trading of NanoString Technologies

A number of institutional investors have recently bought and sold shares of the company. Polar Capital Holdings Plc lifted its position in shares of NanoString Technologies by 36.7% in the first quarter. Polar Capital Holdings Plc now owns 1,617,733 shares of the biotechnology company’s stock valued at $56,216,000 after acquiring an additional 434,081 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of NanoString Technologies by 10.8% in the first quarter. Goldman Sachs Group Inc. now owns 467,969 shares of the biotechnology company’s stock valued at $16,262,000 after acquiring an additional 45,483 shares in the last quarter. Invesco Ltd. lifted its position in shares of NanoString Technologies by 2.7% in the first quarter. Invesco Ltd. now owns 1,655,562 shares of the biotechnology company’s stock valued at $57,531,000 after acquiring an additional 44,127 shares in the last quarter. State Street Corp lifted its position in shares of NanoString Technologies by 4.5% in the first quarter. State Street Corp now owns 926,443 shares of the biotechnology company’s stock valued at $32,194,000 after acquiring an additional 40,245 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of NanoString Technologies by 38.1% in the first quarter. JPMorgan Chase & Co. now owns 86,603 shares of the biotechnology company’s stock valued at $3,009,000 after acquiring an additional 23,872 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NSTG shares. Robert W. Baird dropped their target price on NanoString Technologies from $30.00 to $21.00 in a report on Friday. Canaccord Genuity Group dropped their price objective on NanoString Technologies from $50.00 to $37.00 in a report on Wednesday, April 13th. Canaccord Genuity Group dropped their price objective on NanoString Technologies from $50.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, April 13th. Cowen set a $33.00 price objective on NanoString Technologies in a report on Tuesday, July 19th. Finally, Cowen dropped their price objective on NanoString Technologies from $65.00 to $50.00 in a report on Wednesday, April 13th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.33.

NanoString Technologies Company Profile

(Get Rating)

NanoString Technologies, Inc develops, manufactures, and sells tools for scientific and clinical research in the fields of genomics and proteomics in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system.

See Also

Earnings History for NanoString Technologies (NASDAQ:NSTG)

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.