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

A number of other research firms have also commented on TTOO. HC Wainwright reissued 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. Alliance Global Partners lowered T2 Biosystems from a buy rating to a neutral rating and reduced their target price for the stock from $5.00 to $0.40 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. Finally, Canaccord Genuity reissued a buy rating and issued a $3.50 target price (up previously from $2.50) on shares of T2 Biosystems in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned 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.

Shares of T2 Biosystems stock traded down $0.18 on Thursday, reaching $2.83. The company’s stock had a trading volume of 2,441,255 shares, compared to its average volume of 1,020,568. The company has a market capitalization of $63.69 million, a price-to-earnings ratio of -2.25 and a beta of 1.15. The firm’s fifty day simple moving average is $1.14 and its two-hundred day simple moving average is $2.10. T2 Biosystems has a 52 week low of $0.52 and a 52 week high of $7.70. 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 (NASDAQ:TTOO) last posted its earnings results on Tuesday, July 30th. The medical equipment provider reported ($0.35) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.03). The business had revenue of $1.80 million during the quarter, compared to the consensus estimate of $1.95 million. T2 Biosystems had a negative return on equity of 1,263.94% and a negative net margin of 722.70%. The firm’s revenue for the quarter was down 53.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.32) EPS. As a group, research analysts predict that T2 Biosystems will post -1.2 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cable Hill Partners LLC grew its holdings in shares of T2 Biosystems by 100.0% in the first quarter. Cable Hill Partners LLC now owns 10,000 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 5,000 shares during the period. Wiley BROS. Aintree Capital LLC grew its holdings in shares of T2 Biosystems by 150.0% in the second quarter. Wiley BROS. Aintree Capital LLC now owns 25,000 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 15,000 shares during the period. Private Advisor Group LLC bought a new stake in shares of T2 Biosystems in the second quarter worth $27,000. Keybank National Association OH grew its holdings in shares of T2 Biosystems by 44.4% in the first quarter. Keybank National Association OH now owns 65,000 shares of the medical equipment provider’s stock worth $171,000 after acquiring an additional 20,000 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in shares of T2 Biosystems by 1,217.6% in the second quarter. Tower Research Capital LLC TRC now owns 22,399 shares of the medical equipment provider’s stock worth $38,000 after acquiring an additional 20,699 shares during the period. 38.43% of the stock is 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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