Analysts Expect NanoString Technologies Inc (NASDAQ:NSTG) Will Post Quarterly Sales of $34.10 Million

Wall Street brokerages expect that NanoString Technologies Inc (NASDAQ:NSTG) will report $34.10 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for NanoString Technologies’ earnings, with estimates ranging from $33.86 million to $34.53 million. NanoString Technologies reported sales of $30.03 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 13.6%. The firm is expected to announce its next quarterly earnings report on Thursday, March 5th.

According to Zacks, analysts expect that NanoString Technologies will report full year sales of $122.75 million for the current fiscal year, with estimates ranging from $122.49 million to $123.17 million. For the next fiscal year, analysts expect that the business will post sales of $131.45 million, with estimates ranging from $129.18 million to $135.26 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover NanoString Technologies.

NanoString Technologies (NASDAQ:NSTG) last issued its quarterly earnings data on Monday, November 4th. The biotechnology company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.10). The business had revenue of $30.60 million during the quarter, compared to analysts’ expectations of $28.05 million. NanoString Technologies had a negative return on equity of 118.32% and a negative net margin of 72.30%.

Several brokerages have recently commented on NSTG. BidaskClub raised NanoString Technologies from a “hold” rating to a “buy” rating in a research note on Monday, November 25th. ValuEngine raised NanoString Technologies from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus started coverage on shares of NanoString Technologies in a report on Thursday, November 14th. They issued a “buy” rating and a $28.00 price objective on the stock. Finally, Zacks Investment Research raised shares of NanoString Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $29.00.

In other NanoString Technologies news, SVP J. Chad Brown sold 31,428 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $24.65, for a total transaction of $774,700.20. Also, Director William Young sold 24,125 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $24.86, for a total value of $599,747.50. Following the transaction, the director now owns 54,125 shares in the company, valued at $1,345,547.50. The disclosure for this sale can be found here. Insiders have sold a total of 64,197 shares of company stock valued at $1,570,126 in the last ninety days. 5.10% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in NanoString Technologies by 314.0% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,917,182 shares of the biotechnology company’s stock worth $84,572,000 after acquiring an additional 2,970,963 shares in the last quarter. Nikko Asset Management Americas Inc. increased its stake in NanoString Technologies by 418.9% during the second quarter. Nikko Asset Management Americas Inc. now owns 2,488,261 shares of the biotechnology company’s stock worth $75,519,000 after purchasing an additional 2,008,747 shares during the period. Cadian Capital Management LP increased its stake in NanoString Technologies by 170.3% during the second quarter. Cadian Capital Management LP now owns 1,527,209 shares of the biotechnology company’s stock worth $46,351,000 after purchasing an additional 962,209 shares during the period. BlackRock Inc. lifted its position in shares of NanoString Technologies by 38.4% during the second quarter. BlackRock Inc. now owns 3,094,485 shares of the biotechnology company’s stock worth $93,918,000 after purchasing an additional 858,400 shares in the last quarter. Finally, Pictet Asset Management Ltd. acquired a new stake in shares of NanoString Technologies during the third quarter worth about $16,769,000.

NASDAQ:NSTG traded down $0.34 on Friday, reaching $26.34. The company’s stock had a trading volume of 304,113 shares, compared to its average volume of 493,115. NanoString Technologies has a 12-month low of $13.26 and a 12-month high of $34.78. The company has a quick ratio of 4.23, a current ratio of 4.73 and a debt-to-equity ratio of 1.51. The firm has a market cap of $953.49 million, a price-to-earnings ratio of -9.47 and a beta of 1.16. The stock has a 50 day moving average price of $23.94 and a 200 day moving average price of $25.66.

NanoString Technologies Company Profile

NanoString Technologies, Inc provides life science tools for translational research and molecular diagnostic products worldwide. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system. It provides nCounter MAX and FLEX systems that include Prep Station, an automated liquid handling component that processes and prepares samples for data collection; and nCounter Digital Analyzer, which collects data from samples by taking images of the immobilized fluorescent reporters in the sample cartridge and processing the data into output files.

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