NanoString Technologies shares are trading lower after Baird downgraded the stock from Outperform to Neutral and lowered its price target from $4 to $0.75.
Portfolio Pulse from Benzinga Newsdesk
NanoString Technologies' stock (NSTG) trades lower following a downgrade by Baird from Outperform to Neutral, with a price target reduction from $4 to $0.75.
November 21, 2023 | 8:38 pm
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NEGATIVE IMPACT
Baird downgraded NanoString Technologies (NSTG) from Outperform to Neutral and significantly lowered the price target from $4 to $0.75, indicating a bearish outlook.
The downgrade by Baird reflects a negative change in the firm's outlook on NSTG, likely due to underlying business challenges or market conditions. The substantial decrease in the price target suggests that Baird sees limited upside potential and possible downside risks for the stock. This bearish sentiment from a reputable analyst firm can lead to a decrease in investor confidence and a short-term decline in the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100