Nanosphere (NSPH) Shares Up 19% Following Jefferies Upgrade

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Investors are buying shares of Nanosphere (Nasdaq: NSPH) Tuesday morning as analysts at Jefferies upgraded the stock from Hold to Buy earlier. Shares are now trading around $3.00, up nearly 19 percent from Monday's close.

The firm said the upgrade was based on the company's "recently FDA approved gram-positive blood stream infection test..." Jefferies believes this will "drive a significant acceleration in new system placements & revenue."

Jefferies' new price target of $5 represents potential upside of about 67 percent from where the stock is currently trading.

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