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Micro-Cap on the Move; Nanosphere Inc. (NSPH)

By Warren Paige

Shares of Nanosphere Inc. (NASDAQ: NSPH), a company engaged in the development, manufacturing and marketing of molecular diagnostics platform, soared in trading today.

NSPH shares ended the day 18.25% higher at $2.98 on above average volume of 6.12 million. The stock gained 31.86% in the last three trading sessions. NSPH shares rose to a new 52-week high of $3.45 in trading today.

NSPH shares rallied on the back of a ratings upgrade by Jefferies.

Jefferies upgraded NSPH from Hold to Buy rating. The brokerage cited expectations for NSPH’s recently FDA-approved gram-positive bloodstream infection test to drive a significant acceleration in new system placements and revenue as the reason for the rating upgrade.

Jefferies also raised its price target on NSPH shares from $2 to $5.

July 3rd, 2012 | Tags: | Category: Hot MicroCaps

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.