NanoString Technologies (NSTG) Price Target Raised to $18.00 at Morgan Stanley
NanoString Technologies (NASDAQ:NSTG) had its price target lifted by Morgan Stanley from $17.00 to $18.00 in a research note issued to investors on Wednesday morning. They currently have an equal weight rating on the biotechnology company’s stock.
NSTG has been the topic of several other reports. ValuEngine lowered shares of NanoString Technologies from a hold rating to a sell rating in a research report on Thursday, July 19th. JPMorgan Chase & Co. boosted their target price on shares of NanoString Technologies to $20.00 and gave the stock an overweight rating in a research report on Thursday, September 13th. BidaskClub lowered shares of NanoString Technologies from a strong-buy rating to a buy rating in a research report on Saturday, September 15th. Robert W. Baird boosted their target price on shares of NanoString Technologies from $15.00 to $18.00 and gave the stock an outperform rating in a research report on Tuesday, September 11th. Finally, Zacks Investment Research lowered shares of NanoString Technologies from a buy rating to a hold rating in a research report on Saturday, August 11th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. NanoString Technologies has an average rating of Buy and a consensus target price of $19.60.
Shares of NASDAQ NSTG traded down $0.08 during trading on Wednesday, hitting $15.76. 199,418 shares of the company were exchanged, compared to its average volume of 247,306. The firm has a market capitalization of $531.12 million, a P/E ratio of -8.57 and a beta of 0.46. NanoString Technologies has a 1 year low of $5.87 and a 1 year high of $18.86. The company has a debt-to-equity ratio of 5.77, a quick ratio of 2.01 and a current ratio of 2.49.
In related news, SVP Mary Tedd Allen sold 26,895 shares of the business’s 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Nicholas Galakatos sold 85,823 shares of the business’s 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 disclosure for this sale can be found here. 20.90% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in NSTG. Metropolitan Life Insurance Co. NY purchased a new stake in shares of NanoString Technologies in the 2nd quarter worth about $108,000. MetLife Investment Advisors LLC purchased a new stake in shares of NanoString Technologies in the 2nd quarter worth about $155,000. Engineers Gate Manager LP purchased a new stake in shares of NanoString Technologies in the 2nd quarter worth about $261,000. GSA Capital Partners LLP purchased a new position in NanoString Technologies in the 2nd quarter valued at about $271,000. Finally, Acadian Asset Management LLC purchased a new position in NanoString Technologies in the 2nd quarter valued at about $325,000. Institutional investors and hedge funds own 73.34% of the company’s stock.
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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