On November 20, 2023, NanoString Technologies experienced a setback as 10x Genomics emerged victorious in a patent infringement case. The court ruled in favor of 10x Genomics, awarding them a substantial sum of over $31 million in damages. This decision came after the jury found NanoString’s GeoMx Digital Spatial Profiler and its associated instruments, reagents, and services for RNA and protein detection to have willfully infringed upon all seven patents owned by Prognosys and exclusively licensed to 10x Genomics.
The impact of this ruling has been significant for NanoString Technologies. In light of the verdict, the company has made the decision to withdraw its full-year 2023 and Q4 financial guidance. This move reflects the uncertainty and challenges that NanoString now faces as a result of the patent infringement case.
This is not the first time NanoString has found itself in legal trouble regarding 10x Genomics’ patents. In fact, this ruling marks the third instance within the past six months where NanoString has been found guilty of infringing upon 10x Genomics’ patents. These repeated violations raise concerns about NanoString’s practices and their ability to navigate the intellectual property landscape successfully.
Looking ahead, 10x Genomics has expressed its intention to seek a permanent injunction against the sales and use of NanoString’s GeoMx instruments and reagents within the United States. This potential restriction could further hinder NanoString’s operations and limit its market presence.
Overall, NanoString Technologies’ recent loss in the patent infringement case against 10x Genomics has had far-reaching consequences. With financial guidance withdrawn and the possibility of a permanent sales and use injunction looming, NanoString faces a challenging road ahead in the highly competitive field of RNA and protein detection technologies.
NanoString Technologies, Inc.
Updated on: 04/12/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Strong Sell
1:00 AM (UTC)
Date:04 December, 2023
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NanoString Technologies Inc. (NSTG) Stock Performance Declines: Insights and Analysis
On November 20, 2023, NanoString Technologies Inc. (NSTG) experienced a significant decline in its stock performance. The stock opened at $0.77 and traded within a range of $0.62 to $0.80. The trading volume for the day reached 642,123 shares. The market capitalization of NSTG stood at $64.5 million. NSTG had a negative growth rate of -35.13% last year but achieved a positive growth rate of +23.04% this year. The earnings growth forecast for the next five years is projected to be 0.00%. The revenue growth for NSTG was -12.28% in the previous year. The price-to-sales ratio for NSTG is 2.91 and the price-to-book ratio is 1.30. NSTG experienced a decline of $0.08 or -2.68% in its stock price. The next reporting date for NSTG is scheduled for February 27, 2024. Analysts are forecasting an earnings per share (EPS) of -$0.47 for the current quarter. NSTG operates in the health technology sector and is specifically involved in the biotechnology industry. The corporate headquarters of NSTG is located in Seattle, Washington.
Promising Performances and Positive Forecasts: NanoString Technologies Inc (NSTG) Stock Analysis for November 20, 2023
On November 20, 2023, NanoString Technologies Inc (NSTG) stock showed promising performances based on the information provided. According to CNN Money, the 7 analysts who offered 12-month price forecasts for NSTG have a median target of $6.00, with a high estimate of $15.00 and a low estimate of $2.50. This indicates a potential increase of 837.50% from the last recorded price of $0.64.
The fact that the median estimate represents such a significant increase suggests that analysts are optimistic about the future prospects of NanoString Technologies Inc. This positive sentiment is further supported by the consensus among 7 polled investment analysts, who all recommend buying NSTG stock. This rating has remained steady since February, indicating a consistent belief in the company’s potential.
In terms of financial performance, the current quarter earnings per share for NSTG stands at -$0.47. While this may seem concerning at first glance, it is important to consider the broader context and potential growth opportunities that the company may have. Additionally, NSTG reported sales of $53.3 million for the current quarter, which indicates a strong revenue stream.
Investors should also take note of the reporting date for NSTG’s financial results, which is scheduled for February 27. This date provides an opportunity for investors to assess the company’s performance and make informed decisions based on the financial information provided.
Overall, the information available suggests that NSTG stock has shown positive performances on November 20, 2023. The optimistic price forecasts, consistent buy rating from analysts, and the upcoming financial reporting date all indicate that NanoString Technologies Inc may be a promising investment opportunity. However, as with any investment, it is important for investors to conduct thorough research and consider their own risk tolerance before making any decisions.