T2 Biosystems (NASDAQ:TTOO) had its target price raised by Svb Leerink from $3.00 to $5.00 in a research note issued to investors on Thursday morning, BenzingaRatingsTable reports. They currently have an outperform rating on the medical equipment provider’s stock.

Other equities research analysts have also recently issued reports about the company. Canaccord Genuity reaffirmed a buy rating and issued a $3.50 target price (up from $2.50) on shares of T2 Biosystems in a report on Wednesday. Alliance Global Partners cut 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. HC Wainwright reaffirmed a hold rating on shares of T2 Biosystems in a report on Wednesday, August 7th. Zacks Investment Research cut T2 Biosystems from a buy rating to a hold rating in a report on Thursday, August 1st. Finally, ValuEngine raised T2 Biosystems from a sell rating to a hold rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $4.71.

Shares of TTOO stock traded down $0.18 during trading hours on Thursday, hitting $2.83. The stock had a trading volume of 2,441,255 shares, compared to its average volume of 1,020,568. T2 Biosystems has a one year low of $0.52 and a one year high of $7.70. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.58 and a quick ratio of 0.52. The stock’s 50-day moving average price is $1.14 and its two-hundred day moving average price is $2.10. The stock has a market capitalization of $63.69 million, a price-to-earnings ratio of -2.25 and a beta of 1.15.

T2 Biosystems (NASDAQ:TTOO) last issued its earnings results on Tuesday, July 30th. The medical equipment provider reported ($0.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $1.80 million during the quarter, compared to the consensus estimate of $1.95 million. During the same period last year, the firm posted ($0.32) earnings per share. The company’s revenue for the quarter was down 53.8% compared to the same quarter last year. As a group, equities research analysts predict that T2 Biosystems will post -1.2 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Keybank National Association OH increased its stake in T2 Biosystems by 44.4% during 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 last quarter. Cable Hill Partners LLC boosted 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 valued at $26,000 after purchasing an additional 5,000 shares during the period. Ardsley Advisory Partners LP boosted its holdings in shares of T2 Biosystems by 6.1% in the second quarter. Ardsley Advisory Partners LP now owns 875,000 shares of the medical equipment provider’s stock valued at $1,470,000 after purchasing an additional 50,000 shares during the period. Gagnon Securities LLC boosted its holdings in shares of T2 Biosystems by 124.3% in the first quarter. Gagnon Securities LLC now owns 149,065 shares of the medical equipment provider’s stock valued at $392,000 after purchasing an additional 82,605 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of T2 Biosystems by 101.1% in the fourth quarter. Deutsche Bank AG now owns 157,785 shares of the medical equipment provider’s stock valued at $474,000 after purchasing an additional 79,311 shares during the period. 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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