T2 Biosystems, Inc. (TTOO) Receives $7.00 Average Target Price from Analysts
Shares of T2 Biosystems, Inc. (NASDAQ:TTOO) have received an average recommendation of “Hold” from the nine analysts that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $7.00.
TTOO has been the topic of a number of recent research reports. Zacks Investment Research lowered T2 Biosystems from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. ValuEngine raised T2 Biosystems from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 13th. Finally, HC Wainwright started coverage on T2 Biosystems in a research note on Wednesday, October 18th. They set a “buy” rating and a $8.00 target price on the stock.
A number of hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its holdings in T2 Biosystems by 0.4% during the second quarter. Goldman Sachs Group Inc. now owns 4,270,632 shares of the medical equipment provider’s stock worth $13,709,000 after purchasing an additional 18,000 shares during the last quarter. Senvest Management LLC increased its position in T2 Biosystems by 15.2% during the second quarter. Senvest Management LLC now owns 2,837,946 shares of the medical equipment provider’s stock worth $9,110,000 after buying an additional 373,876 shares in the last quarter. Lagoda Investment Management L.P. increased its position in T2 Biosystems by 15.4% during the second 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. Essex Investment Management Co. LLC increased its position in T2 Biosystems by 221.8% during the second 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, Susquehanna International Group LLP increased its position in T2 Biosystems by 931.3% during the second 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. 53.02% of the stock is owned by hedge funds and other institutional investors.
Shares of T2 Biosystems (NASDAQ:TTOO) traded down 1.74% during midday trading on Wednesday, reaching $3.96. 241,840 shares of the company’s stock were exchanged. T2 Biosystems has a one year low of $2.50 and a one year high of $7.07. The stock’s market cap is $121.83 million. The company’s 50-day moving average is $4.48 and its 200-day moving average is $3.86.
T2 Biosystems (NASDAQ:TTOO) last issued its quarterly earnings results on Thursday, August 3rd. The medical equipment provider reported ($0.50) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by ($0.01). T2 Biosystems had a negative return on equity of 178.83% and a negative net margin of 1,473.71%. The firm had revenue of $0.96 million for the quarter, compared to analysts’ expectations of $0.79 million. Equities analysts expect that T2 Biosystems will post ($1.92) earnings per share for the current fiscal year.
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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