$29.87 Million in Sales Expected for NanoString Technologies, Inc. (NSTG) This Quarter

Equities research analysts predict that NanoString Technologies, Inc. (NASDAQ:NSTG) will report $29.87 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for NanoString Technologies’ earnings, with the highest sales estimate coming in at $32.96 million and the lowest estimate coming in at $24.16 million. NanoString Technologies reported sales of $22.63 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 32%. The business is expected to issue its next earnings results after the market closes on Tuesday, August 8th.

According to Zacks, analysts expect that NanoString Technologies will report full year sales of $29.87 million for the current year, with estimates ranging from $102.07 million to $109.39 million. For the next fiscal year, analysts forecast that the business will post sales of $126.81 million per share, with estimates ranging from $123.00 million to $130.53 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for NanoString Technologies.

NanoString Technologies (NASDAQ:NSTG) last posted its earnings results on Thursday, May 4th. The biotechnology company reported ($0.87) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.87). NanoString Technologies had a negative net margin of 57.13% and a negative return on equity of 6,777.29%. The firm had revenue of $18.10 million for the quarter, compared to analysts’ expectations of $17.53 million. During the same quarter last year, the firm earned ($0.74) EPS. The company’s quarterly revenue was up 23.1% compared to the same quarter last year.

Several brokerages have recently issued reports on NSTG. Zacks Investment Research upgraded shares of NanoString Technologies from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Wednesday, July 5th. ValuEngine upgraded shares of NanoString Technologies from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Cowen and Company reiterated a “buy” rating on shares of NanoString Technologies in a research note on Friday, July 14th. BidaskClub downgraded shares of NanoString Technologies from a “sell” rating to a “strong sell” rating in a research report on Friday. Finally, Morgan Stanley downgraded shares of NanoString Technologies from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $23.00 to $20.00 in a research report on Thursday, April 20th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $19.67.

TRADEMARK VIOLATION NOTICE: “$29.87 Million in Sales Expected for NanoString Technologies, Inc. (NSTG) This Quarter” was first published by Rincon Hill News and is the sole property of of Rincon Hill News. If you are reading this piece of content on another domain, it was illegally copied and reposted in violation of U.S. and international copyright & trademark legislation. The correct version of this piece of content can be viewed at https://rinconhillneighbors.org/2017/08/19/29-87-million-in-sales-expected-for-nanostring-technologies-inc-nstg-this-quarter-updated-updated.html.

NanoString Technologies (NASDAQ:NSTG) traded up 0.13% during trading on Friday, hitting $15.23. 137,930 shares of the company’s stock traded hands. The stock’s market cap is $375.94 million. The company’s 50 day moving average is $15.94 and its 200-day moving average is $17.84. NanoString Technologies has a 12 month low of $13.19 and a 12 month high of $23.45.

A number of hedge funds and other institutional investors have recently modified their holdings of NSTG. Candriam Luxembourg S.C.A. bought a new position in shares of NanoString Technologies during the second quarter worth $744,000. Spark Investment Management LLC increased its position in shares of NanoString Technologies by 27.8% in the second quarter. Spark Investment Management LLC now owns 330,200 shares of the biotechnology company’s stock worth $5,461,000 after buying an additional 71,900 shares during the period. Strs Ohio increased its position in shares of NanoString Technologies by 22.7% in the second quarter. Strs Ohio now owns 40,000 shares of the biotechnology company’s stock worth $661,000 after buying an additional 7,400 shares during the period. Russell Investments Group Ltd. increased its position in shares of NanoString Technologies by 1,452.0% in the second quarter. Russell Investments Group Ltd. now owns 538,792 shares of the biotechnology company’s stock worth $8,910,000 after buying an additional 504,075 shares during the period. Finally, RE Advisers Corp increased its position in shares of NanoString Technologies by 5.9% in the second quarter. RE Advisers Corp now owns 521,132 shares of the biotechnology company’s stock worth $8,620,000 after buying an additional 29,132 shares during the period. Institutional investors own 89.09% of the company’s stock.

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.

Get a free copy of the Zacks research report on NanoString Technologies (NSTG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for NanoString Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NanoString Technologies Inc. and related companies with our FREE daily email newsletter.

 

Latest News



Leave a Reply

 
© 2006-2017 Rincon Hill News.