T2 Biosystems (TTOO) PT Set at $8.00 by HC Wainwright

T2 Biosystems (NASDAQ:TTOO) received a $8.00 price objective from HC Wainwright in a note issued to investors on Monday. The firm presently has a “buy” rating on the medical equipment provider’s stock. HC Wainwright’s price target indicates a potential upside of 81.41% from the stock’s current price.

A number of other analysts have also recently issued reports on the company. Goldman Sachs Group assumed coverage on T2 Biosystems in a research report on Monday, January 29th. They issued a “neutral” rating and a $5.20 price objective for the company. Zacks Investment Research cut T2 Biosystems from a “buy” rating to a “hold” rating in a research report on Saturday, January 6th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $6.00 price objective on shares of T2 Biosystems in a research report on Monday, October 30th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $5.56.

T2 Biosystems (NASDAQ:TTOO) traded up $0.13 on Monday, hitting $4.41. The stock had a trading volume of 111,062 shares, compared to its average volume of 255,095. T2 Biosystems has a 52 week low of $2.50 and a 52 week high of $6.99. The firm has a market capitalization of $153.33, a PE ratio of -2.32 and a beta of 1.71. The company has a debt-to-equity ratio of 2.25, a quick ratio of 5.28 and a current ratio of 5.40.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Susquehanna International Group LLP increased its stake in shares of 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 purchasing an additional 95,920 shares during the period. Gagnon Securities LLC bought a new position in shares of T2 Biosystems during the third quarter worth approximately $396,000. Point72 Asset Management L.P. bought a new position in shares of T2 Biosystems during the third quarter worth approximately $630,000. Essex Investment Management Co. LLC increased its stake in shares of T2 Biosystems by 239.2% during the third 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 stake in shares of T2 Biosystems by 61.4% during the third 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. 59.65% of the stock is owned by institutional investors.

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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).

Analyst Recommendations for T2 Biosystems (NASDAQ:TTOO)

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