Zacks: Analysts Expect NanoString Technologies, Inc. (NASDAQ:NSTG) Will Post Earnings of -$0.59 Per Share

Equities analysts predict that NanoString Technologies, Inc. (NASDAQ:NSTG) will report earnings per share (EPS) of ($0.59) for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for NanoString Technologies’ earnings. The lowest EPS estimate is ($0.66) and the highest is ($0.50). NanoString Technologies reported earnings per share of ($0.72) during the same quarter last year, which indicates a positive year over year growth rate of 18.1%. The company is scheduled to announce its next earnings report on Monday, August 9th.

According to Zacks, analysts expect that NanoString Technologies will report full-year earnings of ($2.24) per share for the current financial year, with EPS estimates ranging from ($2.57) to ($1.97). For the next fiscal year, analysts anticipate that the firm will post earnings of ($2.14) per share, with EPS estimates ranging from ($2.54) to ($1.73). Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow NanoString Technologies.

NanoString Technologies (NASDAQ:NSTG) last issued its quarterly earnings data on Monday, May 10th. The biotechnology company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.04). The firm had revenue of $31.60 million for the quarter, compared to the consensus estimate of $30.51 million. NanoString Technologies had a negative return on equity of 52.15% and a negative net margin of 81.07%. The business’s quarterly revenue was up 18.8% on a year-over-year basis.

A number of research analysts have recently issued reports on the company. Zacks Investment Research raised NanoString Technologies from a “sell” rating to a “hold” rating in a research note on Friday, May 14th. Morgan Stanley decreased their target price on shares of NanoString Technologies from $70.00 to $65.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 11th. Robert W. Baird boosted their price objective on shares of NanoString Technologies from $70.00 to $78.00 and gave the company an “outperform” rating in a research report on Tuesday, March 2nd. Finally, JPMorgan Chase & Co. upped their target price on shares of NanoString Technologies from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, March 2nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $70.17.

NanoString Technologies stock opened at $59.81 on Friday. The company has a quick ratio of 13.38, a current ratio of 14.10 and a debt-to-equity ratio of 0.95. NanoString Technologies has a one year low of $28.50 and a one year high of $86.42. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of -24.61 and a beta of 1.71. The stock has a fifty day moving average of $63.20.

In other news, SVP J. Chad Brown sold 4,754 shares of the company’s stock in a transaction dated Wednesday, March 17th. The shares were sold at an average price of $64.20, for a total transaction of $305,206.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO R Bradley Gray sold 33,333 shares of the company’s stock in a transaction dated Wednesday, May 12th. The shares were sold at an average price of $52.94, for a total transaction of $1,764,649.02. Following the sale, the chief executive officer now owns 189,743 shares in the company, valued at $10,044,994.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,655 shares of company stock worth $6,268,326. Corporate insiders own 4.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its position in NanoString Technologies by 444.1% in the 1st quarter. Principal Financial Group Inc. now owns 97,442 shares of the biotechnology company’s stock worth $6,403,000 after purchasing an additional 79,533 shares during the period. Virtu Financial LLC purchased a new stake in NanoString Technologies in the 1st quarter worth about $386,000. Eminence Capital LP purchased a new stake in NanoString Technologies in the 1st quarter worth about $82,139,000. Voloridge Investment Management LLC raised its position in NanoString Technologies by 526.3% in the 1st quarter. Voloridge Investment Management LLC now owns 129,632 shares of the biotechnology company’s stock worth $8,518,000 after purchasing an additional 108,934 shares during the period. Finally, Point72 Asset Management L.P. raised its position in NanoString Technologies by 37.2% in the 1st quarter. Point72 Asset Management L.P. now owns 266,474 shares of the biotechnology company’s stock worth $17,510,000 after purchasing an additional 72,256 shares during the period.

NanoString Technologies Company Profile

NanoString Technologies, Inc develops, manufactures, and sells tools for scientific and clinical research in the fields of genomics and proteomics in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system.

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