T2 Biosystems Inc. (NASDAQ:TTOO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

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. “

A number of other equities analysts also recently issued reports on the company. WBB Securities raised T2 Biosystems from a “buy” rating to a “strong-buy” rating and upped their price target for the company from $11.00 to $12.00 in a report on Wednesday, July 20th. BTIG Research downgraded T2 Biosystems from a “buy” rating to a “sell” rating and lowered their price target for the company from $12.00 to $4.00 in a report on Friday, July 8th. Canaccord Genuity lowered their price target on T2 Biosystems from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, August 2nd. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $15.00 price target on shares of T2 Biosystems in a report on Tuesday, June 21st. Finally, Leerink Swann reaffirmed an “outperform” rating and issued a $11.00 price target on shares of T2 Biosystems in a report on Monday, June 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $10.65.

Analyst Recommendations for T2 Biosystems (NASDAQ:TTOO)

Shares of T2 Biosystems (NASDAQ:TTOO) opened at 7.27 on Thursday. The firm’s market capitalization is $177.13 million. T2 Biosystems has a 1-year low of $4.92 and a 1-year high of $12.30. The company has a 50-day moving average of $6.94 and a 200-day moving average of $7.85.

T2 Biosystems (NASDAQ:TTOO) last announced its quarterly earnings results on Monday, August 1st. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.56) by $0.02. The business earned $0.99 million during the quarter, compared to analyst estimates of $1.53 million. T2 Biosystems had a negative net margin of 1,233.67% and a negative return on equity of 159.25%. The business’s revenue for the quarter was up 75.5% compared to the same quarter last year. During the same period last year, the company earned ($0.54) earnings per share. Equities research analysts predict that T2 Biosystems will post ($2.18) EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. Flagship Ventures Fund IV L.P. bought a new stake in T2 Biosystems during the first quarter valued at approximately $7,314,000. Geode Capital Management LLC boosted its stake in T2 Biosystems by 2.3% in the first quarter. Geode Capital Management LLC now owns 100,150 shares of the company’s stock valued at $987,000 after buying an additional 2,238 shares during the period. Goldman Sachs Group Inc. boosted its stake in T2 Biosystems by 1.2% in the first quarter. Goldman Sachs Group Inc. now owns 4,223,416 shares of the company’s stock valued at $41,642,000 after buying an additional 48,529 shares during the period. State Street Corp boosted its stake in T2 Biosystems by 23.9% in the first quarter. State Street Corp now owns 93,844 shares of the company’s stock valued at $927,000 after buying an additional 18,126 shares during the period. Finally, KCG Holdings Inc. bought a new stake in T2 Biosystems during the second quarter valued at approximately $100,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

About T2 Biosystems

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).

5 Day Chart for NASDAQ:TTOO

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