- NanoString Technologies ( NASDAQ: NSTG ) added ~15% to reach the highest level since October after UBS launched its coverage on the life sciences company with a Buy rating and a 12-month per share target of $15.
- The analyst John Sourbeer argues that Street forecasts on NSTG have yet to reflect the bullish views the company’s management shared in early January , and the stock indicates a compelling valuation, trading below its historical multiples and its peers.
- “Our proprietary analysis, surveys and expert calls suggest above-consensus revenue growth over the near and long term,” the analyst said about NanoString ( NSTG ), which offers analytical instruments for genomic and proteomic research.
- UBS expects innovation and collaborations to drive “both instrument placements and pull-through” over the long term leading to outperformance driven by upward revisions to revenue and multiple expansion as the consumable mix improves.
- In December, NanoString ( NSTG ) shares surged after the company leadership bought $700K worth of its shares.
For further details see:
NanoString nears four-month high as UBS issues Buy rating