BidaskClub upgraded shares of T2 Biosystems (NASDAQ:TTOO) from a hold rating to a buy rating in a report published on Thursday.
TTOO has been the topic of a number of other research reports. ValuEngine upgraded shares of T2 Biosystems from a hold rating to a buy rating in a research report on Friday, May 18th. Zacks Investment Research cut shares of T2 Biosystems from a buy rating to a hold rating in a report on Friday, March 23rd. Goldman Sachs Group assumed coverage on shares of T2 Biosystems in a report on Monday, January 29th. They issued a neutral rating and a $5.20 price target on the stock. Finally, HC Wainwright set a $8.00 price target on shares of T2 Biosystems and gave the stock a buy rating in a report on Wednesday, March 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $6.80.
T2 Biosystems opened at $8.69 on Thursday, Marketbeat Ratings reports. The company has a quick ratio of 0.61, a current ratio of 0.65 and a debt-to-equity ratio of -0.13. T2 Biosystems has a 52-week low of $2.50 and a 52-week high of $8.98.
T2 Biosystems (NASDAQ:TTOO) last released its quarterly earnings results on Tuesday, May 8th. The medical equipment provider reported ($0.36) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.01. T2 Biosystems had a negative net margin of 1,003.23% and a negative return on equity of 1,117.88%. The company had revenue of $2.30 million for the quarter, compared to the consensus estimate of $1.45 million. The business’s revenue was up 144.7% on a year-over-year basis. sell-side analysts forecast that T2 Biosystems will post -1.37 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Element Capital Management LLC bought a new position in shares of T2 Biosystems in the first quarter worth about $200,000. UBS Group AG grew its holdings in shares of T2 Biosystems by 635.8% in the first quarter. UBS Group AG now owns 41,756 shares of the medical equipment provider’s stock worth $271,000 after purchasing an additional 36,081 shares during the last quarter. Tibra Equities Europe Ltd bought a new position in shares of T2 Biosystems in the first quarter worth about $338,000. Renaissance Technologies LLC lifted its stake in T2 Biosystems by 72.2% in the fourth quarter. Renaissance Technologies LLC now owns 83,500 shares of the medical equipment provider’s stock worth $344,000 after acquiring an additional 35,000 shares during the period. Finally, Geode Capital Management LLC lifted its stake in T2 Biosystems by 41.9% in the fourth quarter. Geode Capital Management LLC now owns 134,470 shares of the medical equipment provider’s stock worth $554,000 after acquiring an additional 39,722 shares during the period. Hedge funds and other institutional investors own 52.14% of the company’s stock.
T2 Biosystems Company Profile
T2 Biosystems, Inc, an in vitro diagnostics company, develops diagnostic products and product candidates in the United States. 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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