Jefferies Upgrades Nanosphere (NSPH) to Buy; Test Approval Removes Overhangs

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Jefferies upgraded Nanosphere (NASDAQ: NSPH) from Hold to Buy with a price target of $5.00 (from $2.00).

Analyst, Jon Wood, said, "We are upgrading NSPH on expectations for its recently FDA approved gram-positive blood stream infection test to drive a significant acceleration in new system placements & revenue. We are raising our 2012 & 2013 revenue forecasts to $9.5M (from $9M) and $28M (from $20M), respectively."

For an analyst ratings summary and ratings history on Nanosphere click here. For more ratings news on Nanosphere click here.

Shares of Nanosphere closed at $2.52 yesterday, with a 52 week range of $0.89-$2.59.

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