Wall Street brokers expect NanoString Technologies, Inc. (NASDAQ: NSTG) to report $ 40.54 million in sales for the current fiscal quarter, according to Zack. Two analysts have estimated the earnings of NanoString Technologies. The lowest sales estimate is $ 38.98 million and the highest is $ 42.10 million. NanoString Technologies reported sales of $ 36.26 million in the same quarter last year, suggesting a positive year-over-year growth rate of 11.8%. The company is expected to publish its next results on Monday, March 7.
According to Zacks, analysts expect NanoString Technologies to report annual sales of $ 143.38 million for the current year, with estimates ranging from $ 141.57 million to $ 144.80 million. For next year, analysts predict the company will post sales of $ 182.99 million, with estimates ranging from $ 179.55 million to $ 185.40 million. Zacks Investment Research sales calculations are an average based on a survey of analysts who cover NanoString technologies.
NanoString Technologies (NASDAQ: NSTG) last released its quarterly earnings data on Tuesday, November 9. The biotech company reported ($ 0.69) earnings per share (EPS) for the quarter, missing analyst consensus estimates of ($ 0.53) by ($ 0.16). The company posted revenue of $ 37.15 million in the quarter, compared to $ 37.35 million expected by analysts. NanoString Technologies had a negative net margin of 78.48% and a negative return on equity of 45.31%. In the same quarter of the previous year, the company posted ($ 0.56) EPS.
Several brokerage firms have published reports on NSTG. Zacks investment research downgraded NanoString Technologies shares from a “hold” rating to a “sell” rating in a report released on Wednesday, October 20. Robert W. Baird reduced his target price on NanoString Technologies shares from $ 71.00 to $ 60.00 and established an “outperformance” rating for the company in a report released on Wednesday, November 10. Finally, Cowen lowered his target price on NanoString Technologies shares from $ 75 to $ 65 and set an “outperformance” rating for the company in a report released Thursday, October 14. One analyst assigned a sell rating to the stock, another assigned a conservation rating, and three assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $ 70.60.
NASDAQ: NSTG opened at $ 41.79 on Friday. NanoString Technologies has a one-year minimum of $ 35.24 and a one-year maximum of $ 86.42. The company has a debt to equity ratio of 1.13, a current ratio of 10.03 and a rapid ratio of 9.33. The company’s 50-day simple moving average is $ 43.70 and its 200-day simple moving average is $ 52.40. The company has a market cap of $ 1.91 billion, a P / E ratio of -17.13 and a beta of 1.74.
In other news, CEO R Bradley Gray sold 25,000 shares of the company in a transaction that took place on Wednesday, November 10. The shares were sold at an average price of $ 46.29, for a total trade of $ 1,157,250.00. The transaction has been disclosed in a legal file with the Securities & Exchange Commission, which is available through this hyperlink. Also, financial director Thomas bailey sold 7,843 shares of the company in a transaction that took place on Wednesday, November 17. The shares were sold at an average price of $ 46.74, for a total trade of $ 366,581.82. Disclosure of this sale can be found here. 2.80% of the shares are held by insiders.
A number of hedge funds have recently changed their positions in the company. Jefferies Group LLC purchased a new stake in NanoString Technologies during the third quarter for a value of approximately $ 3,601,000. Bank of New York Mellon Corp increased its stake in NanoString Technologies by 4.7% during the third quarter. Bank of New York Mellon Corp now owns 297,003 shares of the biotech company valued at $ 14,259,000 after purchasing an additional 13,205 shares in the last quarter. Altium Capital Management LP increased its stake in NanoString Technologies by 19.3% during the third quarter. Altium Capital Management LP now owns 65,000 shares of the biotech company valued at $ 3,218,000 after purchasing an additional 10,500 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in NanoString Technologies by 383.0% during the third quarter. BNP Paribas Arbitrage SA now owns 8,187 shares of the biotechnology company valued at $ 393,000 after purchasing an additional 6,492 shares during the last quarter. Finally, Jane Street Group LLC strengthened its position in NanoString Technologies shares by 209.8% in the third quarter. Jane Street Group LLC now owns 15,031 shares of the biotech company valued at $ 722,000 after purchasing an additional 10,179 shares during the period.
About NanoString technologies
NanoString Technologies, Inc. engages in the development and commercialization of instruments and services for the profiling of genes and proteins from tissue samples. It offers the GeoMx Digital Spatial Profiler and nCounter Analysis System product platforms, both of which include instruments, associated consumables, and software.
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