BidaskClub Lowers NanoString Technologies (NASDAQ:NSTG) to Buy

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

Several other research analysts have also recently weighed in on NSTG. Zacks Investment Research upgraded shares of NanoString Technologies from a sell rating to a hold rating in a report on Saturday, April 13th. JPMorgan Chase & Co. reiterated an overweight rating and issued a $35.00 price target on shares of NanoString Technologies in a report on Friday, March 8th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $25.00.

NASDAQ:NSTG traded up $0.30 during trading hours on Thursday, hitting $25.84. The stock had a trading volume of 3,009 shares, compared to its average volume of 383,909. NanoString Technologies has a one year low of $11.12 and a one year high of $31.25. The company has a debt-to-equity ratio of 0.92, a quick ratio of 4.48 and a current ratio of 4.83. The company has a market capitalization of $895.18 million, a PE ratio of -9.14 and a beta of 1.16.

NanoString Technologies (NASDAQ:NSTG) last issued its earnings results on Thursday, May 9th. The biotechnology company reported ($0.69) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.65) by ($0.04). NanoString Technologies had a negative net margin of 71.94% and a negative return on equity of 166.73%. The firm had revenue of $27.69 million during the quarter, compared to the consensus estimate of $25.42 million. On average, sell-side analysts forecast that NanoString Technologies will post -2.2 earnings per share for the current year.

In related news, insider R Bradley Gray sold 50,000 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $26.59, for a total transaction of $1,329,500.00. Following the completion of the transaction, the insider now owns 36,611 shares in the company, valued at $973,486.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David W. Ghesquiere sold 6,954 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $29.41, for a total transaction of $204,517.14. Following the transaction, the senior vice president now owns 44,868 shares of the company’s stock, valued at approximately $1,319,567.88. The disclosure for this sale can be found here. Insiders sold 2,056,954 shares of company stock valued at $44,774,017 in the last quarter. Corporate insiders own 5.10% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in NSTG. Rehmann Capital Advisory Group bought a new position in NanoString Technologies in the 1st quarter valued at about $353,000. BlueMountain Capital Management LLC bought a new position in NanoString Technologies in the 1st quarter valued at about $672,000. Sandler Capital Management bought a new position in NanoString Technologies in the 1st quarter valued at about $2,546,000. Schonfeld Strategic Advisors LLC bought a new position in NanoString Technologies in the 1st quarter valued at about $4,163,000. Finally, Morgan Stanley increased its holdings in NanoString Technologies by 148.6% in the 1st quarter. Morgan Stanley now owns 3,913,597 shares of the biotechnology company’s stock valued at $93,652,000 after buying an additional 2,339,516 shares during the period. Institutional investors and hedge funds own 93.88% of the company’s stock.

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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