T2 Biosystems, Inc. (TTOO) Expected to Post Earnings of -$0.49 Per Share
Analysts expect that T2 Biosystems, Inc. (NASDAQ:TTOO) will post earnings per share of ($0.49) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for T2 Biosystems’ earnings. T2 Biosystems reported earnings of ($0.58) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 15.5%. The firm is scheduled to issue its next earnings results on Monday, August 7th.
According to Zacks, analysts expect that T2 Biosystems will report full year earnings of ($1.96) per share for the current year, with EPS estimates ranging from ($1.96) to ($1.95). For the next fiscal year, analysts forecast that the firm will report earnings of ($1.60) per share, with EPS estimates ranging from ($1.95) to ($1.25). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for T2 Biosystems.
T2 Biosystems (NASDAQ:TTOO) last issued its quarterly earnings results on Tuesday, May 2nd. The medical equipment provider reported ($0.48) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by $0.01. The company had revenue of $0.94 million for the quarter, compared to analyst estimates of $1.55 million. T2 Biosystems had a negative return on equity of 161.43% and a negative net margin of 1,425.02%.
A number of brokerages have recently commented on TTOO. Zacks Investment Research lowered T2 Biosystems from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. BTIG Research raised T2 Biosystems from a “sell” rating to a “neutral” rating and set a $4.00 price objective on the stock in a research report on Monday, May 8th. Finally, Cantor Fitzgerald cut their price objective on T2 Biosystems from $7.00 to $6.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 3rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $6.75.
In other T2 Biosystems news, Director David B. Elsbree acquired 10,000 shares of the stock in a transaction dated Tuesday, June 6th. The shares were acquired at an average cost of $3.50 per share, for a total transaction of $35,000.00. Following the completion of the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at $175,000. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have purchased 20,000 shares of company stock worth $70,330 over the last quarter. 38.70% of the stock is owned by company insiders.
An institutional investor recently raised its position in T2 Biosystems stock. Bank of New York Mellon Corp increased its stake in T2 Biosystems, Inc. (NASDAQ:TTOO) by 0.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,415 shares of the medical equipment provider’s stock after buying an additional 201 shares during the period. Bank of New York Mellon Corp owned 0.18% of T2 Biosystems worth $297,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 66.66% of the company’s stock.
Shares of T2 Biosystems (TTOO) traded up 10.15% on Tuesday, reaching $2.93. 1,013,890 shares of the company traded hands. The company’s market capitalization is $89.64 million. The firm’s 50 day moving average is $3.46 and its 200 day moving average is $4.87. T2 Biosystems has a one year low of $2.50 and a one year high of $8.12.
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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