NanoString Technologies Inc (NSTG) Expected to Post Quarterly Sales of $25.90 Million

Wall Street analysts expect NanoString Technologies Inc (NASDAQ:NSTG) to announce sales of $25.90 million for the current quarter, according to Zacks. Two analysts have provided estimates for NanoString Technologies’ earnings, with the highest sales estimate coming in at $25.99 million and the lowest estimate coming in at $25.81 million. NanoString Technologies posted sales of $27.02 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 4.1%. The company is expected to issue its next earnings report after the market closes on Thursday, November 8th.

According to Zacks, analysts expect that NanoString Technologies will report full-year sales of $105.74 million for the current financial year, with estimates ranging from $105.44 million to $106.22 million. For the next financial year, analysts forecast that the company will post sales of $123.06 million, with estimates ranging from $119.13 million to $128.99 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow NanoString Technologies.

NanoString Technologies (NASDAQ:NSTG) last released its quarterly earnings data on Tuesday, August 7th. The biotechnology company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.09). The business had revenue of $25.00 million during the quarter, compared to analyst estimates of $25.10 million. NanoString Technologies had a negative net margin of 54.34% and a negative return on equity of 201.90%.

NSTG has been the topic of several research analyst reports. ValuEngine raised NanoString Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, August 30th. Zacks Investment Research lowered NanoString Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 11th. Morgan Stanley raised their price objective on NanoString Technologies from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 10th. UBS Group began coverage on NanoString Technologies in a research note on Tuesday, October 9th. They set a “buy” rating and a $23.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price target on NanoString Technologies to $20.00 and gave the company an “overweight” rating in a research note on Thursday, September 13th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. NanoString Technologies currently has a consensus rating of “Buy” and an average target price of $19.60.

In other news, Director Nicholas Galakatos sold 85,823 shares of NanoString Technologies stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $15.99, for a total transaction of $1,372,309.77. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Mary Tedd Allen sold 26,895 shares of NanoString Technologies stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $17.60, for a total value of $473,352.00. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Northern Trust Corp raised its position in shares of NanoString Technologies by 11.6% during the second quarter. Northern Trust Corp now owns 269,081 shares of the biotechnology company’s stock worth $3,681,000 after acquiring an additional 28,059 shares during the last quarter. Platinum Investment Management Ltd. raised its position in shares of NanoString Technologies by 15.8% during the second quarter. Platinum Investment Management Ltd. now owns 232,500 shares of the biotechnology company’s stock worth $3,181,000 after acquiring an additional 31,700 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in shares of NanoString Technologies during the second quarter worth about $155,000. Metropolitan Life Insurance Co. NY bought a new position in shares of NanoString Technologies during the second quarter worth about $108,000. Finally, BlackRock Inc. raised its position in shares of NanoString Technologies by 3.6% during the second quarter. BlackRock Inc. now owns 1,852,530 shares of the biotechnology company’s stock worth $25,342,000 after acquiring an additional 64,268 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

NASDAQ:NSTG traded down $0.74 during trading hours on Friday, hitting $15.02. The company’s stock had a trading volume of 2,429 shares, compared to its average volume of 247,306. The firm has a market capitalization of $531.12 million, a PE ratio of -8.03 and a beta of 0.46. The company has a quick ratio of 2.01, a current ratio of 2.49 and a debt-to-equity ratio of 5.77. NanoString Technologies has a twelve month low of $5.87 and a twelve month high of $18.86.

About NanoString Technologies

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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