NanoString Technologies Soars 25% On Q2 Prel. Revenue Above Street Estimates

(RTTNews) - Shares of NanoString Technologies, Inc. (NSTG) are surging more than 25% Monday morning after the company reported higher preliminary revenue for the second quarter, up from its previous outlook as well as above analysts' view.

The company now expects revenue to be more than $44 million in the second quarter, up from the previous outlook of $40 million - $42 million.

Analysts on average polled by Thomson-Reuters expect the company to report revenue of $41.38 for the quarter.

For the full year, NanoString has reaffirmed its revenue outlook of $175 million-$185 million. The consensus estimates stands at $179.13 million.

NSTG is at $4.71 currently. It has traded in the range of $3.51 - $18.51 in the last 52 weeks.