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NanoString (NSTG) Surges 5.1%: Is This an Indication of Further Gains?
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NanoString Technologies shares soared 5.1% in the last trading session to close at $12.45. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3.6% loss over the past four weeks.
The increase in share price of NanoString Technologies is likely due to siginificant potential upside expectation of the investment bank and financial services company, Cowen.
This maker of diagnostic systems for the analysis of genomic information is expected to post quarterly loss of $0.62 per share in its upcoming report, which represents a year-over-year change of -3.3%. Revenues are expected to be $32.4 million, down 4.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For NanoString, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NSTG going forward to see if this recent jump can turn into more strength down the road.
NanoString is part of the Zacks Medical - Products industry. National Vision (EYE - Free Report) , another stock in the same industry, closed the last trading session 1.2% higher at $31.11. EYE has returned 15% in the past month.
For National Vision, the consensus EPS estimate for the upcoming report has changed -3.6% over the past month to $0.08. This represents a change of -83.3% from what the company reported a year ago. National Vision currently has a Zacks Rank of #3 (Hold).
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NanoString (NSTG) Surges 5.1%: Is This an Indication of Further Gains?
NanoString Technologies shares soared 5.1% in the last trading session to close at $12.45. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3.6% loss over the past four weeks.
The increase in share price of NanoString Technologies is likely due to siginificant potential upside expectation of the investment bank and financial services company, Cowen.
This maker of diagnostic systems for the analysis of genomic information is expected to post quarterly loss of $0.62 per share in its upcoming report, which represents a year-over-year change of -3.3%. Revenues are expected to be $32.4 million, down 4.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For NanoString, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NSTG going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
NanoString is part of the Zacks Medical - Products industry. National Vision (EYE - Free Report) , another stock in the same industry, closed the last trading session 1.2% higher at $31.11. EYE has returned 15% in the past month.
For National Vision, the consensus EPS estimate for the upcoming report has changed -3.6% over the past month to $0.08. This represents a change of -83.3% from what the company reported a year ago. National Vision currently has a Zacks Rank of #3 (Hold).