T2 Biosystems, Inc. (NASDAQ:TTOO) – Analysts at Cantor Fitzgerald increased their FY2016 earnings per share (EPS) estimates for T2 Biosystems in a report issued on Tuesday. Cantor Fitzgerald analyst B. Brokmeier now expects that the firm will post earnings per share of ($2.01) for the year, up from their previous forecast of ($2.18). Cantor Fitzgerald has a “Buy” rating and a $9.00 price objective on the stock. Cantor Fitzgerald also issued estimates for T2 Biosystems’ FY2017 earnings at ($1.50) EPS.

T2 Biosystems (NASDAQ:TTOO) last released its quarterly earnings data on Tuesday, November 1st. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.01. T2 Biosystems had a negative net margin of 1,250.59% and a negative return on equity of 134.73%. The business earned $1.08 million during the quarter, compared to analyst estimates of $2.03 million. During the same quarter in the previous year, the business earned ($0.57) EPS. T2 Biosystems’s quarterly revenue was up 2.9% compared to the same quarter last year.

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Earnings History and Estimates for T2 Biosystems (NASDAQ:TTOO)

Several other equities research analysts also recently commented on TTOO. Canaccord Genuity reaffirmed a “buy” rating and issued a $9.00 target price on shares of T2 Biosystems in a research note on Thursday, September 22nd. Zacks Investment Research raised shares of T2 Biosystems from a “hold” rating to a “buy” rating and set a $6.25 target price for the company in a research note on Saturday, November 5th. Finally, Leerink Swann reaffirmed a “market perform” rating and issued a $5.00 target price on shares of T2 Biosystems in a research note on Thursday, November 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $7.54.

Shares of T2 Biosystems (NASDAQ:TTOO) opened at 5.57 on Friday. The company has a 50 day moving average of $5.56 and a 200 day moving average of $6.46. T2 Biosystems has a 1-year low of $4.89 and a 1-year high of $11.30. The firm’s market cap is $169.50 million.

Large investors have recently modified their holdings of the company. California State Teachers Retirement System increased its stake in shares of T2 Biosystems by 1.0% in the third quarter. California State Teachers Retirement System now owns 30,940 shares of the company’s stock valued at $224,000 after buying an additional 300 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of T2 Biosystems by 10.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 215,389 shares of the company’s stock valued at $1,559,000 after buying an additional 20,921 shares in the last quarter. Flagship Ventures Fund IV General Partner LLC bought a new stake in shares of T2 Biosystems during the second quarter valued at about $5,852,000. Tiger Management L.L.C. increased its position in T2 Biosystems by 125.5% in the second quarter. Tiger Management L.L.C. now owns 1,245,138 shares of the company’s stock worth $9,824,000 after buying an additional 692,883 shares during the period. Finally, KCG Holdings Inc. acquired a new position in T2 Biosystems during the second quarter worth $100,000. 68.58% of the stock is owned by institutional investors.

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T2 Biosystems Company Profile

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).

5 Day Chart for NASDAQ:TTOO

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