T2 Biosystems (NASDAQ:TTOO) Price Target Raised to $5.00 at Svb Leerink

T2 Biosystems (NASDAQ:TTOO) had its price objective hoisted by Svb Leerink from $3.00 to $5.00 in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has an outperform rating on the medical equipment provider’s stock.

Several other brokerages have also recently weighed in on TTOO. Alliance Global Partners cut shares of T2 Biosystems from a buy rating to a neutral rating and lowered their price target for the company from $5.00 to $0.40 in a research report on Thursday, August 1st. Janney Montgomery Scott raised shares of T2 Biosystems from a neutral rating to a buy rating in a research report on Thursday. ValuEngine raised shares of T2 Biosystems from a sell rating to a hold rating in a research report on Thursday, August 1st. Canaccord Genuity reissued a buy rating and set a $3.50 price target (up previously from $2.50) on shares of T2 Biosystems in a research report on Wednesday, September 11th. Finally, Cantor Fitzgerald cut shares of T2 Biosystems from an overweight rating to a neutral rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. T2 Biosystems presently has a consensus rating of Hold and an average price target of $4.71.

T2 Biosystems stock opened at $2.88 on Thursday. The company has a fifty day simple moving average of $1.16 and a 200-day simple moving average of $2.09. The company has a quick ratio of 0.52, a current ratio of 0.58 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $134.05 million, a price-to-earnings ratio of -2.29 and a beta of 1.15. T2 Biosystems has a 52-week low of $0.52 and a 52-week high of $7.70.



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

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC acquired a new position in T2 Biosystems in the second quarter valued at about $316,000. Paloma Partners Management Co acquired a new position in T2 Biosystems in the second quarter valued at about $235,000. Vanguard Group Inc. lifted its position in T2 Biosystems by 20.3% in the second quarter. Vanguard Group Inc. now owns 1,390,197 shares of the medical equipment provider’s stock valued at $2,336,000 after buying an additional 234,369 shares during the last quarter. Private Advisor Group LLC acquired a new position in T2 Biosystems in the second quarter valued at about $27,000. Finally, A.R.T. Advisors LLC acquired a new position in T2 Biosystems in the second quarter valued at about $58,000. 38.43% of the stock is currently owned by 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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Analyst Recommendations for T2 Biosystems (NASDAQ:TTOO)

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