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Home > News > Nanosphere Spikes on Coverage Starts

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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