T2 Biosystems, Inc. (TTOO) Receives Average Recommendation of “Hold” from Brokerages
T2 Biosystems, Inc. (NASDAQ:TTOO) has earned an average recommendation of “Hold” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $7.00.
Several equities analysts recently issued reports on the stock. HC Wainwright assumed coverage on shares of T2 Biosystems in a research note on Wednesday, October 18th. They set a “buy” rating and a $8.00 price objective on the stock. Zacks Investment Research raised shares of T2 Biosystems from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, ValuEngine raised shares of T2 Biosystems from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 13th.
Shares of T2 Biosystems (TTOO) opened at 4.02 on Wednesday. The firm’s market cap is $123.67 million. T2 Biosystems has a one year low of $2.50 and a one year high of $7.07. The stock’s 50 day moving average is $4.53 and its 200-day moving average is $3.86.
T2 Biosystems (NASDAQ:TTOO) last announced its quarterly earnings data on Thursday, August 3rd. The medical equipment provider reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.01). The firm had revenue of $0.96 million for the quarter, compared to analysts’ expectations of $0.79 million. T2 Biosystems had a negative net margin of 1,473.71% and a negative return on equity of 178.83%. Analysts anticipate that T2 Biosystems will post ($1.92) EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its position 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 shares of T2 Biosystems by 15.2% in the second quarter. Senvest Management LLC now owns 2,837,946 shares of the medical equipment provider’s stock worth $9,110,000 after acquiring an additional 373,876 shares in the last quarter. Lagoda Investment Management L.P. increased its position in shares of T2 Biosystems by 15.4% in 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 acquiring an additional 264,337 shares in the last quarter. Essex Investment Management Co. LLC increased its position in shares of T2 Biosystems by 221.8% in the second quarter. Essex Investment Management Co. LLC now owns 208,190 shares of the medical equipment provider’s stock worth $668,000 after acquiring an additional 143,495 shares in the last quarter. Finally, Susquehanna International Group LLP increased its position in shares of T2 Biosystems by 931.3% in the second quarter. Susquehanna International Group LLP now owns 85,620 shares of the medical equipment provider’s stock worth $275,000 after acquiring an additional 95,920 shares in the last quarter. 53.02% of the stock is owned by hedge funds and other institutional investors.
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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