Nanosphere (NSPH) is Downgraded by Rodman & Renshaw to Neutral, Lowers Price Target to $ 1.35

Nanosphere (NSPH) was Downgraded by Rodman & Renshaw to ” Neutral” while Lowering the Price Target of the company shares to $ 1.35 from a previous price target of $2 . Earlier the firm had a rating of “Buy ” on the company shares. Rodman & Renshaw advised their investors in a research report released on May 17, 2016.

Many Wall Street Analysts have commented on Nanosphere. Rodman & Renshaw Initiated Nanosphere on Mar 8, 2016 to “Buy”, Price Target of the shares are set at $2.Shares were Reiterated by Chardan Capital Markets on Feb 25, 2016 to “Buy” and Lowered the Price Target to $ 1.65 from a previous price target of $3.30 .

On the company’s financial health, Nanosphere reported $-0.55 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on May 16, 2016. Analyst had a consensus of $-0.49. The company had revenue of $6.60 million for the quarter, compared to analysts expectations of $6.50 million. The company’s revenue was up 43.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-1.29 EPS.

Nanosphere opened for trading at $1.32 and hit $1.33 on the upside on Monday, eventually ending the session at $1.29, with a gain of 65.38% or 0.51 points. The heightened volatility saw the trading volume jump to 2,22,99,068 shares. Company has a market cap of $16 M.

Nanosphere Inc. is engaged in developing manufacturing and marketing an advanced molecular diagnostics platform the Verigene System which enables genomic and protein testing on a single platform. The Company’s nanoparticle technology provides the solution to run multiple tests simultaneously on the same sample. The Verigene System includes a bench-top molecular diagnostics workstation that is a universal platform for genomic and protein testing. The Verigene System provides for multiple tests to be performed on a single platform including both genomic and protein assays from a single sample. The Verigene System is comprised of a microfluidics processor a touchscreen reader certain disposable consumables used in sample preparation target amplification and test cartridges. The Company is focused on the infectious disease diagnostics market.


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