Nanosphere (NSPH) Reports 4Q'13 Results (Gets Upgraded)

Nanosphere (NPSH) reported 4Q'13 results prior to the market opening yesterday (02014.02.12). NSPH did not have a gap open, but shortly after trading began NSPH spiked from previous close of $2.15 to an intra-day high of $2.54. NSPH closed yesterday (02014.02.12) at $2.37, up 10.2% for the day. Volume was 2-times trailing-3-month average.

Today (02014.02.13), prior to the markets opening, I saw this news: Nanosphere upgraded to Buy from Neutral at Roth Capital Roth Capital upgraded Nanosphere citing improved revenue and placement visibility following the company's Q4 results. Roth raised its price target for shares to $3 from $2.50.

NSPH is a speculative investment. From Nanosphere's 4Q'13 press release: Cash flow for the fourth quarter of 2013 was negative $7.8 million as compared with negative $8.8 million in the same quarter of 2012. Cash at December 31, 2013 was $41.5 million. Since 02011 the number of NSPH common shares outstanding has increased to ~62,134,000 from ~37,800,000.