Wall Street analysts expect T2 Biosystems Inc (NASDAQ:TTOO) to post sales of $1.15 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for T2 Biosystems’ earnings, with estimates ranging from $1.10 million to $1.20 million. T2 Biosystems reported sales of $910,000.00 in the same quarter last year, which would suggest a positive year over year growth rate of 26.4%. The business is scheduled to issue its next earnings results on Thursday, February 15th.

According to Zacks, analysts expect that T2 Biosystems will report full year sales of $1.15 million for the current financial year, with estimates ranging from $3.95 million to $4.21 million. For the next fiscal year, analysts expect that the business will post sales of $11.87 million per share, with estimates ranging from $7.50 million to $20.40 million. Zacks’ sales 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 released its earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.45) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.49) by $0.04. The company had revenue of $1.11 million during the quarter, compared to analyst estimates of $1.10 million. T2 Biosystems had a negative return on equity of 244.82% and a negative net margin of 1,497.70%. The company’s revenue was up 2.8% compared to the same quarter last year.

Several brokerages recently issued reports on TTOO. Zacks Investment Research lowered T2 Biosystems from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. ValuEngine upgraded T2 Biosystems from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 13th. Canaccord Genuity reiterated a “buy” rating and set a $6.00 price objective on shares of T2 Biosystems in a report on Monday, October 30th. Finally, HC Wainwright began coverage on T2 Biosystems in a report on Wednesday, October 18th. They set a “buy” rating and a $8.00 price objective for the company. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. T2 Biosystems presently has an average rating of “Hold” and an average price target of $6.54.

T2 Biosystems (TTOO) traded down $0.09 on Thursday, hitting $4.20. The stock had a trading volume of 175,900 shares, compared to its average volume of 170,033. The company has a quick ratio of 5.28, a current ratio of 5.40 and a debt-to-equity ratio of 2.25. T2 Biosystems has a one year low of $2.50 and a one year high of $6.99.

Large investors have recently made changes to their positions in the stock. LMR Partners LLP purchased a new stake in shares of T2 Biosystems during the second quarter worth $180,000. 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 during the last quarter. Bank of New York Mellon Corp increased its position in T2 Biosystems by 0.4% during the first quarter. Bank of New York Mellon Corp now owns 56,415 shares of the medical equipment provider’s stock worth $297,000 after buying an additional 201 shares during the last quarter. Gagnon Securities LLC acquired a new position in T2 Biosystems during the third quarter worth $396,000. Finally, Point72 Asset Management L.P. acquired a new position in T2 Biosystems during the third quarter worth $630,000. Institutional investors and hedge funds own 59.77% of the company’s stock.

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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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Earnings History and Estimates for T2 Biosystems (NASDAQ:TTOO)

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