T2 Biosystems (NASDAQ:TTOO) Stock Rating Upgraded by Janney Montgomery Scott

T2 Biosystems (NASDAQ:TTOO) was upgraded by Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a report issued on Thursday, The Fly reports.

A number of other equities research analysts have also weighed in on TTOO. HC Wainwright reaffirmed a “hold” rating on shares of T2 Biosystems in a report on Wednesday, August 7th. Zacks Investment Research lowered T2 Biosystems from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Cantor Fitzgerald lowered T2 Biosystems from an “overweight” rating to a “neutral” rating in a report on Wednesday, July 31st. ValuEngine raised T2 Biosystems from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $3.50 price objective (up previously from $2.50) on shares of T2 Biosystems in a report on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $4.66.

NASDAQ TTOO opened at $2.61 on Thursday. The company has a quick ratio of 0.52, a current ratio of 0.58 and a debt-to-equity ratio of 0.04. T2 Biosystems has a 52-week low of $0.52 and a 52-week high of $7.70. The business’s 50-day moving average price is $1.14 and its 200 day moving average price is $2.10. The firm has a market cap of $65.47 million, a P/E ratio of -2.07 and a beta of 1.15.

T2 Biosystems (NASDAQ:TTOO) last released its quarterly earnings results on Tuesday, July 30th. The medical equipment provider reported ($0.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.03). T2 Biosystems had a negative return on equity of 1,263.94% and a negative net margin of 722.70%. The company had revenue of $1.80 million for the quarter, compared to analysts’ expectations of $1.95 million. During the same period in the prior year, the business earned ($0.32) EPS. The business’s quarterly revenue was down 53.8% compared to the same quarter last year. As a group, analysts anticipate that T2 Biosystems will post -1.2 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of the company. Cable Hill Partners LLC lifted its position in shares of T2 Biosystems by 100.0% during the 1st quarter. Cable Hill Partners LLC now owns 10,000 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 5,000 shares during the period. Wiley BROS. Aintree Capital LLC lifted its position in shares of T2 Biosystems by 150.0% during the 2nd quarter. Wiley BROS. Aintree Capital LLC now owns 25,000 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 15,000 shares during the period. Private Advisor Group LLC acquired a new stake in shares of T2 Biosystems during the 2nd quarter valued at approximately $27,000. Keybank National Association OH lifted its position in shares of T2 Biosystems by 44.4% during the 1st quarter. Keybank National Association OH now owns 65,000 shares of the medical equipment provider’s stock valued at $171,000 after acquiring an additional 20,000 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in shares of T2 Biosystems by 1,217.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 22,399 shares of the medical equipment provider’s stock valued at $38,000 after acquiring an additional 20,699 shares during the period. Institutional investors own 38.43% of the company’s stock.

About T2 Biosystems

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.

Further Reading: Equal Weight Rating

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