Research analysts at Alliance Global Partners began coverage on shares of T2 Biosystems (NASDAQ:TTOO) in a report issued on Thursday, Briefing.com Automated Import reports. The firm set a “buy” rating and a $5.00 price target on the medical equipment provider’s stock. Alliance Global Partners’ target price would indicate a potential upside of 90.84% from the stock’s current price.
Other analysts also recently issued research reports about the stock. Cantor Fitzgerald set a $11.00 target price on shares of T2 Biosystems and gave the company a “buy” rating in a report on Tuesday, March 5th. Canaccord Genuity reaffirmed a “buy” rating and issued a $10.00 target price on shares of T2 Biosystems in a report on Tuesday, March 5th. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 target price (down previously from $14.00) on shares of T2 Biosystems in a report on Friday, March 8th. Zacks Investment Research raised shares of T2 Biosystems from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. Finally, ValuEngine downgraded shares of T2 Biosystems from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. T2 Biosystems has a consensus rating of “Hold” and an average target price of $7.79.
Shares of NASDAQ:TTOO opened at $2.62 on Thursday. The stock has a market capitalization of $112.18 million, a PE ratio of -2.08 and a beta of 1.77. The company has a current ratio of 0.81, a quick ratio of 1.03 and a debt-to-equity ratio of 0.04. T2 Biosystems has a fifty-two week low of $2.41 and a fifty-two week high of $9.98.
T2 Biosystems (NASDAQ:TTOO) last issued its earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.04). The firm had revenue of $1.80 million during the quarter, compared to analysts’ expectations of $1.38 million. T2 Biosystems had a negative net margin of 535.26% and a negative return on equity of 325.79%. The firm’s revenue was down 21.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.36) EPS. On average, equities analysts predict that T2 Biosystems will post -1.11 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Wiley BROS. Aintree Capital LLC purchased a new stake in T2 Biosystems during the first quarter worth about $26,000. Cable Hill Partners LLC boosted its holdings in T2 Biosystems by 100.0% during the first quarter. Cable Hill Partners LLC now owns 10,000 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 5,000 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in T2 Biosystems during the fourth quarter worth about $37,000. Bell & Brown Wealth Advisors LLC purchased a new stake in T2 Biosystems during the fourth quarter worth about $38,000. Finally, Lau Associates LLC purchased a new stake in T2 Biosystems during the first quarter worth about $33,000. 48.75% of the stock is currently owned by hedge funds and other institutional investors.
T2 Biosystems Company Profile
T2 Biosystems, Inc, an in vitro diagnostics company, develops diagnostic products and product candidates in the United States and internationally. It provides T2 Magnetic Resonance platform that enables detection of pathogens, biomarkers, and other abnormalities in various unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum, and urine.
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