T2 Biosystems Inc. Expected to Earn FY2016 Earnings of ($2.16) Per Share (TTOO)
T2 Biosystems Inc. (NASDAQ:TTOO) – Investment analysts at Leerink Swann issued their FY2016 earnings per share (EPS) estimates for shares of T2 Biosystems in a research report issued on Wednesday. Leerink Swann analyst P. Souda anticipates that the brokerage will post earnings of ($2.16) per share for the year. Leerink Swann has a “Market Perform” rating and a $5.00 price objective on the stock. Leerink Swann also issued estimates for T2 Biosystems’ Q4 2016 earnings at ($0.52) EPS, Q1 2017 earnings at ($0.49) EPS, Q2 2017 earnings at ($0.49) EPS, Q3 2017 earnings at ($0.47) EPS, Q4 2017 earnings at ($0.43) EPS, FY2017 earnings at ($1.89) EPS and FY2018 earnings at ($1.46) EPS.
T2 Biosystems (NASDAQ:TTOO) last announced its earnings results on Tuesday, November 1st. The company reported ($0.51) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.52) by $0.01. The firm earned $1.08 million during the quarter, compared to analysts’ expectations of $2.03 million. T2 Biosystems had a negative return on equity of 134.73% and a negative net margin of 1,250.59%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.57) EPS.
Several other brokerages have also recently issued reports on TTOO. Zacks Investment Research raised T2 Biosystems from a “sell” rating to a “hold” rating in a report on Thursday, October 6th. Canaccord Genuity reissued a “buy” rating and issued a $9.00 price objective on shares of T2 Biosystems in a report on Thursday, September 22nd. 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. Finally, WBB Securities raised T2 Biosystems from a “buy” rating to a “strong-buy” rating and upped their price target for the stock from $11.00 to $12.00 in a report on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. T2 Biosystems has a consensus rating of “Hold” and an average price target of $8.46.
T2 Biosystems (NASDAQ:TTOO) opened at 6.78 on Monday. The stock’s market cap is $206.32 million. The stock has a 50 day moving average price of $6.70 and a 200-day moving average price of $7.23. T2 Biosystems has a one year low of $4.92 and a one year high of $12.00.
Institutional investors have recently made changes to their positions in the stock. Lagoda Investment Management L.P. purchased a new position in shares of T2 Biosystems during the third quarter worth approximately $13,625,000. Flagship Ventures Fund IV L.P. purchased a new position in shares of T2 Biosystems during the first quarter worth approximately $7,314,000. Flagship Ventures Fund IV General Partner LLC purchased a new position in shares of T2 Biosystems during the second quarter worth approximately $5,852,000. Tiger Management L.L.C. boosted its position in shares of T2 Biosystems by 125.5% in the second quarter. Tiger Management L.L.C. now owns 1,245,138 shares of the company’s stock worth $9,824,000 after buying an additional 692,883 shares during the last quarter. Finally, Senvest Management LLC boosted its position in shares of T2 Biosystems by 14.9% in the third quarter. Senvest Management LLC now owns 1,898,080 shares of the company’s stock worth $13,742,000 after buying an additional 246,849 shares during the last quarter. 62.81% of the stock is owned by institutional investors and hedge funds.
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).
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