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December 11th, 2007
Nanosphere Spikes on Coverage Starts
Nanosphere Inc. shares spiked on Tuesday after analysts initiated coverage of the diagnostic test company with bullish ratings, citing its cutting-edge nanoparticle technology and strong pipeline.
Nanosphere shares rose $1.09, or 8.8 percent, to close at $13.51 Tuesday. The stock has traded between $11.92 and $22.04 since the company's initial public offering priced at $14 on Oct. 31.
In a note to investors, Piper Jaffray analyst William R. Quirk said he expects Nanosphere's technology, expanding test portfolio and easy-to-use instrument format to enable the company to achieve long-term revenue growth.
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