T2 Biosystems, Inc. (TTOO) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of T2 Biosystems, Inc. (NASDAQ:TTOO) from a hold rating to a buy rating in a research note published on Wednesday. The brokerage currently has $4.75 price objective on the medical equipment provider’s stock.

According to Zacks, “T2 Biosystems, Inc. is an in vitro diagnostics company. It has developed a technology platform that is designed to offer a rapid, sensitive and simple alternative to existing diagnostic methodologies. The Company uses its T2 Magnetic Resonance platform, or T2MR, that enables rapid detection of pathogens, biomarkers and other abnormalities in a variety of unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum and urine, and can detect cellular targets. It operates primarily in the United States. T2 Biosystems, Inc. is headquartered in Lexington, Massachusetts. “

TTOO has been the subject of a number of other research reports. HC Wainwright restated a buy rating and issued a $8.00 price objective on shares of T2 Biosystems in a research note on Friday, November 3rd. ValuEngine upgraded shares of T2 Biosystems from a strong sell rating to a sell rating in a research report on Wednesday, September 13th. Finally, Canaccord Genuity reissued a buy rating and set a $6.00 price objective on shares of T2 Biosystems in a report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $6.34.

T2 Biosystems (NASDAQ:TTOO) traded down $0.08 during midday trading on Wednesday, hitting $4.12. 98,706 shares of the company traded hands, compared to its average volume of 170,997. The company has a quick ratio of 4.57, a current ratio of 5.40 and a debt-to-equity ratio of 2.25. T2 Biosystems has a fifty-two week low of $2.50 and a fifty-two week high of $7.07.

T2 Biosystems (NASDAQ:TTOO) last issued its quarterly earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.45) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.04. T2 Biosystems had a negative net margin of 1,497.70% and a negative return on equity of 244.82%. The firm had revenue of $1.11 million during the quarter, compared to the consensus estimate of $1.10 million. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. equities research analysts expect that T2 Biosystems will post -1.88 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “T2 Biosystems, Inc. (TTOO) Upgraded to “Buy” at Zacks Investment Research” was first posted by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this article on another publication, it was illegally copied and reposted in violation of US & international copyright laws. The original version of this article can be viewed at https://sportsperspectives.com/2017/11/09/t2-biosystems-inc-ttoo-upgraded-to-buy-at-zacks-investment-research.html.

Several hedge funds and other institutional investors have recently modified their holdings of TTOO. LMR Partners LLP bought a new position in shares of T2 Biosystems in the 2nd quarter valued at about $180,000. Susquehanna International Group LLP boosted its stake in shares of T2 Biosystems by 931.3% in the 2nd quarter. Susquehanna International Group LLP now owns 85,620 shares of the medical equipment provider’s stock valued at $275,000 after purchasing an additional 95,920 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of T2 Biosystems by 0.4% in the 1st quarter. Bank of New York Mellon Corp now owns 56,415 shares of the medical equipment provider’s stock valued at $297,000 after purchasing an additional 201 shares during the last quarter. Essex Investment Management Co. LLC boosted its stake in shares of T2 Biosystems by 221.8% in the 2nd quarter. Essex Investment Management Co. LLC now owns 208,190 shares of the medical equipment provider’s stock valued at $668,000 after purchasing an additional 143,495 shares during the last quarter. Finally, Lagoda Investment Management L.P. boosted its stake in shares of T2 Biosystems by 15.4% in the 2nd quarter. Lagoda Investment Management L.P. now owns 1,975,921 shares of the medical equipment provider’s stock valued at $6,343,000 after purchasing an additional 264,337 shares during the last quarter. 54.41% of the stock is currently owned by institutional investors.

About T2 Biosystems

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)

Receive News & Ratings for T2 Biosystems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T2 Biosystems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply