Leerink Swann Begins Coverage on T2 Biosystems Inc. (TTOO)
Equities researchers at Leerink Swann began coverage on shares of T2 Biosystems Inc. (NASDAQ:TTOO) in a research report issued on Thursday. The brokerage set a “market perform” rating and a $5.00 price target on the stock. Leerink Swann’s price objective would indicate a potential downside of 20.76% from the stock’s previous close.
Several other equities analysts have also recently issued reports on TTOO. WBB Securities raised T2 Biosystems from a “buy” rating to a “strong-buy” rating and boosted their price objective for the company from $11.00 to $12.00 in a report on Wednesday, July 20th. Zacks Investment Research raised T2 Biosystems from a “sell” rating to a “hold” rating in a report on Thursday, October 6th. Canaccord Genuity reduced 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. Finally, Cantor Fitzgerald reduced their price target on T2 Biosystems from $10.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, November 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. T2 Biosystems currently has a consensus rating of “Hold” and a consensus target price of $8.46.
T2 Biosystems (NASDAQ:TTOO) traded down 3.65% on Thursday, reaching $6.08. The company’s stock had a trading volume of 13,901 shares. T2 Biosystems has a 1-year low of $4.92 and a 1-year high of $12.00. The firm’s 50 day moving average price is $6.77 and its 200-day moving average price is $7.31. The company’s market capitalization is $185.02 million.
T2 Biosystems (NASDAQ:TTOO) last announced its earnings results on Tuesday, November 1st. The company reported ($0.51) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.52) by $0.01. T2 Biosystems had a negative return on equity of 149.88% and a negative net margin of 1,250.59%. The firm had revenue of $1.08 million for the quarter, compared to the consensus estimate of $2.03 million. During the same period in the previous year, the business earned ($0.57) EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities analysts forecast that T2 Biosystems will post ($2.10) earnings per share for the current year.
Large investors have recently bought and sold shares of the stock. California State Teachers Retirement System raised its stake in T2 Biosystems by 1.0% in the third quarter. California State Teachers Retirement System now owns 30,940 shares of the company’s stock worth $224,000 after buying an additional 300 shares during the period. Northern Trust Corp raised its stake in T2 Biosystems by 0.6% in the third quarter. Northern Trust Corp now owns 178,074 shares of the company’s stock worth $1,289,000 after buying an additional 1,060 shares during the period. Teachers Advisors Inc. raised its stake in T2 Biosystems by 20.8% in the second quarter. Teachers Advisors Inc. now owns 20,063 shares of the company’s stock worth $158,000 after buying an additional 3,448 shares during the period. Bank of New York Mellon Corp raised its stake in T2 Biosystems by 17.1% in the second quarter. Bank of New York Mellon Corp now owns 44,105 shares of the company’s stock worth $348,000 after buying an additional 6,435 shares during the period. Finally, KCG Holdings Inc. bought a new stake in T2 Biosystems during the second quarter worth about $100,000. Institutional investors and hedge funds own 80.38% of the company’s stock.
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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