Brokerages Set NanoString Technologies Inc (NSTG) Price Target at $16.00

NanoString Technologies Inc (NASDAQ:NSTG) has been given an average recommendation of “Hold” by the seven ratings firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $16.00.

NSTG has been the subject of several research reports. Zacks Investment Research upgraded NanoString Technologies from a “hold” rating to a “buy” rating and set a $8.25 price objective for the company in a research note on Wednesday, January 3rd. ValuEngine lowered NanoString Technologies from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Finally, Robert W. Baird reiterated a “buy” rating and set a $14.00 price objective on shares of NanoString Technologies in a research note on Tuesday, October 24th.

NanoString Technologies (NASDAQ NSTG) traded up $0.21 during trading hours on Wednesday, reaching $7.00. The company’s stock had a trading volume of 189,912 shares, compared to its average volume of 130,669. NanoString Technologies has a 52 week low of $6.31 and a 52 week high of $20.70. The company has a current ratio of 3.35, a quick ratio of 2.89 and a debt-to-equity ratio of 1.08. The stock has a market cap of $172.35, a price-to-earnings ratio of -3.38 and a beta of 0.78.

A number of large investors have recently bought and sold shares of NSTG. Two Sigma Investments LP boosted its holdings in shares of NanoString Technologies by 384.8% during the 4th quarter. Two Sigma Investments LP now owns 76,332 shares of the biotechnology company’s stock worth $570,000 after purchasing an additional 60,587 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of NanoString Technologies by 96.2% during the 4th quarter. Deutsche Bank AG now owns 97,823 shares of the biotechnology company’s stock worth $730,000 after purchasing an additional 47,968 shares during the last quarter. Broadfin Capital LLC acquired a new position in shares of NanoString Technologies during the 4th quarter worth approximately $747,000. Geode Capital Management LLC boosted its holdings in shares of NanoString Technologies by 17.0% during the 4th quarter. Geode Capital Management LLC now owns 176,701 shares of the biotechnology company’s stock worth $1,319,000 after purchasing an additional 25,632 shares during the last quarter. Finally, Altrinsic Global Advisors LLC boosted its holdings in shares of NanoString Technologies by 54.3% during the 4th quarter. Altrinsic Global Advisors LLC now owns 483,111 shares of the biotechnology company’s stock worth $3,609,000 after purchasing an additional 170,000 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.

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NanoString Technologies Company Profile

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.

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