NanoString price target lowered to $1.50 from $5 at Canaccord

Canaccord analyst Kyle Mikson lowered the firm’s price target on NanoString to $1.50 from $5 and keeps a Buy rating on the shares. The price target decrease is driven by uncertainty related to the company’s most recent legal losses regarding its spatial biology platforms, which may have repercussions on NanoString’s “debt situation,” the analyst tells investors in a research note. The firm says these developments could cause the company to delay its target to achieve profitability and/or cash flow breakeven, or may cause it to potentially default on its debt.