NanoString Technologies, Inc. (NASDAQ:NSTG) Stock Rating Reaffirmed by Cowen and Company

Cowen and Company reissued their buy rating on shares of NanoString Technologies, Inc. (NASDAQ:NSTG) in a research note issued to investors on Friday, July 14th.

A number of other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of NanoString Technologies from a hold rating to a sell rating in a research report on Thursday, March 23rd. Morgan Stanley downgraded shares of NanoString Technologies from an overweight rating to an equal weight rating and reduced their target price for the stock from $23.00 to $20.00 in a research note on Thursday, April 20th. Finally, ValuEngine raised shares of NanoString Technologies from a sell rating to a hold rating in a research note on Saturday, July 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. NanoString Technologies has an average rating of Hold and a consensus price target of $19.67.

Shares of NanoString Technologies (NSTG) opened at 15.46 on Friday. The stock’s 50 day moving average is $15.94 and its 200 day moving average is $17.81. NanoString Technologies has a 12 month low of $13.19 and a 12 month high of $23.45. The stock’s market capitalization is $335.33 million.

NanoString Technologies (NASDAQ:NSTG) last posted its quarterly earnings results on Thursday, May 4th. The biotechnology company reported ($0.87) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.87). The firm had revenue of $18.10 million for the quarter, compared to analyst estimates of $17.53 million. NanoString Technologies had a negative net margin of 57.13% and a negative return on equity of 6,777.29%. NanoString Technologies’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.74) earnings per share. Analysts anticipate that NanoString Technologies will post ($2.56) earnings per share for the current fiscal year.

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Institutional investors have recently modified their holdings of the company. Bank of Montreal Can increased its position in shares of NanoString Technologies by 3,731.4% in the second quarter. Bank of Montreal Can now owns 9,387 shares of the biotechnology company’s stock worth $156,000 after buying an additional 9,142 shares during the period. American International Group Inc. increased its position in shares of NanoString Technologies by 7.4% in the first quarter. American International Group Inc. now owns 9,153 shares of the biotechnology company’s stock worth $182,000 after buying an additional 634 shares during the period. Bank of America Corp DE increased its stake in NanoString Technologies by 16.6% in the first quarter. Bank of America Corp DE now owns 11,404 shares of the biotechnology company’s stock worth $227,000 after buying an additional 1,627 shares during the period. Rhumbline Advisers increased its stake in NanoString Technologies by 20.6% in the second quarter. Rhumbline Advisers now owns 21,332 shares of the biotechnology company’s stock worth $353,000 after buying an additional 3,640 shares during the period. Finally, Eagle Global Advisors LLC bought a new stake in NanoString Technologies during the first quarter worth about $360,000. 89.09% of the stock is currently owned by institutional investors.

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.