NanoString Technologies, Inc. (NSTG) Price Target Cut to $12.00 by Analysts at Robert W. Baird

NanoString Technologies, Inc. (NASDAQ:NSTG) had its price target reduced by research analysts at Robert W. Baird from $14.00 to $12.00 in a research note issued to investors on Friday. The firm presently has an “outperform” rating on the biotechnology company’s stock. Robert W. Baird’s target price indicates a potential upside of 54.04% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Cowen and Company restated a “buy” rating on shares of NanoString Technologies in a research report on Friday, July 14th. BidaskClub lowered NanoString Technologies from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Zacks Investment Research lowered NanoString Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Janney Montgomery Scott lowered NanoString Technologies from a “buy” rating to a “neutral” rating in a research report on Thursday, October 12th. Finally, ValuEngine lowered NanoString Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. NanoString Technologies currently has a consensus rating of “Hold” and a consensus target price of $17.25.

Shares of NanoString Technologies (NASDAQ:NSTG) traded down $2.12 during mid-day trading on Friday, reaching $7.79. The company had a trading volume of 1,240,311 shares, compared to its average volume of 359,709.

NanoString Technologies (NASDAQ:NSTG) last issued its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.11. The business had revenue of $27.02 million for the quarter, compared to analyst estimates of $26.27 million. NanoString Technologies had a negative return on equity of 227.21% and a negative net margin of 44.24%. NanoString Technologies’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.51) EPS. equities analysts forecast that NanoString Technologies will post -2.26 earnings per share for the current year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. bought a new stake in shares of NanoString Technologies in the 2nd quarter valued at about $4,200,000. Renaissance Technologies LLC grew its position in shares of NanoString Technologies by 45.7% in the 1st quarter. Renaissance Technologies LLC now owns 350,000 shares of the biotechnology company’s stock valued at $6,955,000 after buying an additional 109,800 shares during the last quarter. Nationwide Fund Advisors grew its position in shares of NanoString Technologies by 368.4% in the 2nd quarter. Nationwide Fund Advisors now owns 41,098 shares of the biotechnology company’s stock valued at $680,000 after buying an additional 32,323 shares during the last quarter. OxFORD Asset Management LLP grew its position in shares of NanoString Technologies by 150.4% in the 2nd quarter. OxFORD Asset Management LLP now owns 33,034 shares of the biotechnology company’s stock valued at $546,000 after buying an additional 19,843 shares during the last quarter. Finally, RE Advisers Corp grew its position in shares of NanoString Technologies by 5.9% in the 2nd quarter. RE Advisers Corp now owns 521,132 shares of the biotechnology company’s stock valued at $8,620,000 after buying an additional 29,132 shares during the last quarter. Hedge funds and other institutional investors own 93.04% of the company’s stock.

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.

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