On September 19, 2023, Kyle Mikson, an analyst at Canaccord Genuity, reaffirmed his optimistic outlook on NanoString Technologies (NASDAQ:NSTG) and upheld a price target of $10. Back in March 2022, Canaccord Genuity had initially initiated coverage of NanoString Technologies with a Buy rating. This innovative company is dedicated to spearheading the forthcoming biological revolution, aiming to enhance the human condition through the advancement of spatial biology.
NanoString Technologies, Inc.
Updated on: 19/09/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Strong Sell
3:00 PM (UTC)
Date:19 September, 2023
|Analyst / firm||Rating|
NanoString Technologies Inc. (NSTG) Stock Analysis: Stable Day in the Market with Positive Earnings Growth
On September 19, 2023, NanoString Technologies Inc. (NSTG) had a relatively stable day in the stock market. The stock opened at the previous day’s closing price of $1.70 and had a day’s range between $1.47 and $1.71. The trading volume for the day was 81,107 shares, which is significantly lower than the average volume of 1,570,919 shares over the past three months.
NSTG currently has a market capitalization of $80.8 million. The company’s earnings growth in the last year was -35.13%, indicating a decline in profitability. However, this year’s earnings growth has shown improvement, with a positive growth rate of +23.04%. Looking ahead, the earnings growth forecast for the next five years is 0.00%, suggesting that the company’s profitability may stabilize in the future.
The revenue growth for NSTG in the last year was -12.28%, reflecting a decrease in sales. The negative earnings growth and revenue decline might be concerning for investors, as it indicates potential challenges for the company. However, it is important to note that NSTG operates in the Health Technology sector, specifically in the Biotechnology industry, which can be volatile and subject to regulatory hurdles.
The P/E ratio for NSTG is listed as NM, which means it is not meaningful. This could be due to negative earnings, as the company reported a loss of -$159.5 million in the last fiscal year. The Price/Sales ratio is 2.91, indicating that investors are willing to pay 2.91 times the company’s annual revenue for each share of stock. The Price/Book ratio is 1.73, suggesting that the stock is trading at a lower price compared to its book value.
Looking at the stock’s performance on September 19, 2023, NSTG had a slight decrease of -0.04, resulting in a percentage change of -1.25%. This indicates a minor decline in the stock price compared to the previous day’s closing price. In comparison, other stocks in the sector had mixed performance, with DarioHealth Corp (DRIOD) experiencing a decrease of -0.04 and Syros Pharmaceutical (SYRS) remaining unchanged. AVROBIO Inc (AVRO) had a small increase of +0.00.
The next reporting date for NSTG is scheduled for November 6, 2023. Analysts forecast an EPS (earnings per share) of -$0.58 for this quarter. In the previous fiscal year, NSTG reported an annual revenue of $127.3 million, but recorded a net loss of -$159.5 million. The net profit margin for the company is -125.37%, indicating significant losses relative to its revenue.
NanoString Technologies Inc. is headquartered in Seattle, Washington. However, no executives were displayed in the provided information.
In conclusion, NSTG had a relatively stable day in the stock market on September 19, 2023. While the company has shown positive earnings growth this year, it has experienced a decline in profitability and revenue in the past. Investors should carefully consider the risks associated with the biotechnology industry before making investment decisions.
NanoString Technologies Inc (NSTG) Stock Target Price Forecast Sees Significant Increase, Analysts Recommend Buying
On September 19, 2023, NanoString Technologies Inc (NSTG) stock experienced a significant increase in its target price forecast. According to data from CNN Money, seven analysts offered 12-month price forecasts for NSTG, with a median target of $10.00. The high estimate was $24.00, while the low estimate was $7.00. This median estimate represents a remarkable increase of 575.68% from the last recorded price of $1.48.
The consensus among the seven polled investment analysts is to buy stock in NanoString Technologies Inc. This rating has remained unchanged since February, indicating a consistent positive sentiment towards the company’s stock.
NanoString Technologies Inc is expected to report its financial results for the current quarter on November 6.
The significant increase in the target price forecast for NSTG indicates a positive outlook for the company’s stock. Investors and analysts are optimistic about the future prospects of NanoString Technologies Inc, leading to a consensus recommendation to buy the stock. However, it is crucial for investors to conduct their own research and analysis to make informed investment decisions.