Zacks Investment Research upgraded shares of T2 Biosystems, Inc. (NASDAQ:TTOO) from a hold rating to a buy rating in a research report released on Wednesday morning. They currently have $4.75 price target on the medical equipment provider’s stock.
According to Zacks, “T2 Biosystems, Inc. is an in vitro diagnostics company. It has developed a technology platform that is designed to offer a rapid, sensitive and simple alternative to existing diagnostic methodologies. The Company uses its T2 Magnetic Resonance platform, or T2MR, that enables rapid detection of pathogens, biomarkers and other abnormalities in a variety of unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum and urine, and can detect cellular targets. It operates primarily in the United States. T2 Biosystems, Inc. is headquartered in Lexington, Massachusetts. “
Several other research analysts also recently commented on TTOO. Canaccord Genuity reissued a buy rating and issued a $6.00 target price on shares of T2 Biosystems in a report on Monday, October 30th. HC Wainwright reissued a buy rating and issued a $8.00 target price on shares of T2 Biosystems in a report on Friday, November 3rd. Finally, ValuEngine raised T2 Biosystems from a strong sell rating to a sell rating in a report on Wednesday, September 13th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $6.54.
T2 Biosystems (NASDAQ:TTOO) traded up $0.03 during midday trading on Wednesday, reaching $4.15. The company’s stock had a trading volume of 127,600 shares, compared to its average volume of 190,268. The company has a debt-to-equity ratio of 2.25, a quick ratio of 4.57 and a current ratio of 5.40. T2 Biosystems has a 12 month low of $2.50 and a 12 month high of $7.07.
T2 Biosystems (NASDAQ:TTOO) last released its quarterly earnings data on Thursday, November 2nd. The medical equipment provider reported ($0.45) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.04. The company had revenue of $1.11 million for the quarter, compared to the consensus estimate of $1.10 million. T2 Biosystems had a negative return on equity of 244.82% and a negative net margin of 1,497.70%. The firm’s revenue was up 2.8% compared to the same quarter last year. sell-side analysts predict that T2 Biosystems will post -1.88 EPS for the current year.
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Large investors have recently bought and sold shares of the business. LMR Partners LLP acquired a new position in T2 Biosystems during the 2nd quarter worth $180,000. Bank of New York Mellon Corp lifted its holdings in T2 Biosystems by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 56,415 shares of the medical equipment provider’s stock worth $297,000 after buying an additional 201 shares in the last quarter. Susquehanna International Group LLP lifted its holdings in T2 Biosystems by 931.3% during the 2nd quarter. Susquehanna International Group LLP now owns 85,620 shares of the medical equipment provider’s stock worth $275,000 after buying an additional 95,920 shares in the last quarter. Essex Investment Management Co. LLC lifted its holdings in T2 Biosystems by 221.8% during the 2nd quarter. Essex Investment Management Co. LLC now owns 208,190 shares of the medical equipment provider’s stock worth $668,000 after buying an additional 143,495 shares in the last quarter. Finally, Lagoda Investment Management L.P. lifted its holdings in T2 Biosystems by 15.4% during the 2nd quarter. Lagoda Investment Management L.P. now owns 1,975,921 shares of the medical equipment provider’s stock worth $6,343,000 after buying an additional 264,337 shares in the last quarter. 54.41% of the stock is currently owned by hedge funds and other institutional investors.
T2 Biosystems Company Profile
T2 Biosystems, Inc is an in vitro diagnostics company engaged in developing a technology platform offering an alternative to diagnostic methodologies. The Company’s T2 Magnetic Resonance platform (T2MR) enables detection of pathogens, biomarkers and other abnormalities in a range of unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum and urine, and can detect cellular targets at limits of detection as one colony forming unit per milliliter (CFU/mL).
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