Baird downgraded NanoString Technologies (NSTG) to Neutral from Outperform with a price target of 75c, down from $4. The analyst cites the negative jury verdict in NanoString’s U.S. GeoMx litigation with 10x Genomics (TXG) for the downgrade. While NanoString could succeed in future appeals, “it’s not a game we’re willing to play here given financing concerns,” the analyst tells investors in a research note. The firm says the company’s path forward exceeds its risk tolerance absent any positive litigation developments.
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