Analysts Anticipate T2 Biosystems Inc (TTOO) Will Post Quarterly Sales of $1.20 Million

Equities analysts predict that T2 Biosystems Inc (NASDAQ:TTOO) will report sales of $1.20 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for T2 Biosystems’ earnings, with the lowest sales estimate coming in at $1.10 million and the highest estimate coming in at $1.35 million. T2 Biosystems posted sales of $910,000.00 in the same quarter last year, which suggests a positive year over year growth rate of 31.9%. The firm is expected to report its next earnings results on Thursday, February 15th.

According to Zacks, analysts expect that T2 Biosystems will report full-year sales of $1.20 million for the current fiscal year, with estimates ranging from $4.10 million to $4.36 million. For the next year, analysts forecast that the business will post sales of $12.18 million per share, with estimates ranging from $7.70 million to $20.90 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for T2 Biosystems.

TTOO has been the topic of several recent analyst reports. Canaccord Genuity reiterated a “buy” rating and issued a $6.00 target price on shares of T2 Biosystems in a report on Monday, October 30th. HC Wainwright initiated coverage on shares of T2 Biosystems in a report on Wednesday, October 18th. They issued a “buy” rating and a $8.00 target price on the stock. Goldman Sachs Group began coverage on shares of T2 Biosystems in a report on Monday, January 29th. They issued a “neutral” rating and a $5.20 target price on the stock. Finally, Zacks Investment Research upgraded shares of T2 Biosystems from a “hold” rating to a “buy” rating and set a $4.75 price objective on the stock in a report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $5.56.

Several large investors have recently bought and sold shares of TTOO. Susquehanna International Group LLP increased its holdings in shares of T2 Biosystems by 931.3% during the 2nd quarter. Susquehanna International Group LLP now owns 85,620 shares of the medical equipment provider’s stock worth $275,000 after purchasing an additional 95,920 shares during the period. Gagnon Securities LLC bought a new position in shares of T2 Biosystems during the 3rd quarter worth about $396,000. Point72 Asset Management L.P. bought a new position in shares of T2 Biosystems during the 3rd quarter worth about $630,000. Essex Investment Management Co. LLC increased its holdings in shares of T2 Biosystems by 239.2% during the 3rd quarter. Essex Investment Management Co. LLC now owns 706,194 shares of the medical equipment provider’s stock worth $2,966,000 after purchasing an additional 498,004 shares during the period. Finally, Lagoda Investment Management L.P. increased its holdings in shares of T2 Biosystems by 61.4% during the 3rd quarter. Lagoda Investment Management L.P. now owns 3,188,539 shares of the medical equipment provider’s stock worth $13,392,000 after purchasing an additional 1,212,618 shares during the period. Institutional investors own 59.72% of the company’s stock.

T2 Biosystems (NASDAQ:TTOO) opened at $4.62 on Wednesday. T2 Biosystems has a twelve month low of $2.50 and a twelve month high of $6.99. The company has a quick ratio of 5.28, a current ratio of 5.40 and a debt-to-equity ratio of 2.25.

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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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