Wednesday, August 7, 2013

Nanosphere (NSPH) Poised to Crash?

Nanosphere (NSPH) reported 2Q'13 results and today (02013.08.07) NSPH is probably going to crash. From the 2Q'13 press release:
"However, our experience with our initial customer base has clearly taken considerably longer than anticipated which will necessitate a reset of our 2013 revenue guidance from $13 million to $15 million to a range of $10 million to $11 million and 150 to 200 placements from 200 to 250 placements."

Many investors don't want to hear the CEO say, "This recast reflects the extended timeline from three months of time to implementation to approximately eight months."

NSPH closed yesterday (02013.08.06) at $2.92. 52-week range: $1.72 - $4.49.

[update::02013.08.07] The market has yet to open. "Jefferies downgraded Nanosphere citing limited near-term visibility following the company's Q2 miss. The firm lowered its price target for shares to $2 from $5.50."

[update::02013.08.07] NSPH closed at $2.07, down almost 30% for the day. Volume was 5.1 million vs. 0.8 million. Previous close was $2.92; opened at $2.29; intra-day low $1.95; closed at $2.07. I added to our NSPH holdings buying some NSPH at $2.06.

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