Nanosphere, Inc. (NASDAQ:NSPH), a company enhancing medicine through targeted molecular diagnostics, announced that 18 studies performed by various U.S. and international hospitals were recently presented at the annual Clinical Virology Symposium (CVS) in Daytona Beach, Florida, the European Congress of Clinical Microbiology and Infectious Diseases (ECCMID) in Copenhagen, Denmark, and the Making a Difference in Infectious Diseases (MAD-ID) Conference in Orlando, Florida.
The 18 studies presented at these meetings utilized five different Verigene® multiplex infectious disease tests: Verigene Gram-Positive Blood Culture (BC-GP), Gram-Negative Blood Culture (BC-GN), Enteric Pathogens (EP), Respiratory Virus Plus (RV+), and Respiratory Pathogens Flex™ IUO (RP Flex™) Tests. By highlighting the positive impact of rapid diagnostics on patient outcomes, antimicrobial stewardship efforts, healthcare costs and infection control efforts, these studies collectively illustrate the wide range of potential benefits the Verigene test menu can provide to multiple stakeholders throughout the hospital.
“The data presented at these conferences further demonstrates the accuracy, reliability, and clinical and economic value of our menu of multiplex molecular tests,” said Michael McGarrity,Nanosphere’s president and chief executive officer. “In this era of growing antibiotic resistance, we feel Nanosphere’s broad menu serves as a vital tool for healthcare providers in their efforts to control the spread of resistance.” (Original Source)
Shares of Nanosphere closed today at $3.63, up $0.09 or 2.54%. NSPH has a 1-year high of $35.60 and a 1-year low of $3.48. The stock’s 50-day moving average is $4.00 and its 200-day moving average is $5.79.
On the ratings front, Nanosphere has been the subject of a number of recent research reports. In a report issued on May 13, Canaccord Genuity analyst Mark Massaro reiterated a Buy rating on NSPH, with a price target of $5, which represents a potential upside of 33.3% from where the stock is currently trading. Separately, on the same day, Piper Jaffray’s William Quirk maintained a Hold rating on the stock and has a price target of $3.50.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Mark Massaro and William Quirk have a total average return of -3.8% and 8.2% respectively. Massaro has a success rate of 47.6% and is ranked #3279 out of 3607 analysts, while Quirk has a success rate of 59.1% and is ranked #1251.
Nanosphere Inc develops, manufactures and markets molecular diagnostics platform, the Verigene System, which enables sensitive genomic and protein testing on a single platform.