ValuEngine cut shares of T2 Biosystems (NASDAQ:TTOO) from a buy rating to a hold rating in a report published on Thursday.

A number of other research firms also recently commented on TTOO. BidaskClub upgraded shares of T2 Biosystems from a hold rating to a buy rating in a report on Thursday, May 24th. Zacks Investment Research upgraded shares of T2 Biosystems from a sell rating to a hold rating in a report on Thursday, August 9th. HC Wainwright reiterated a buy rating and issued a $14.00 price objective (up previously from $8.50) on shares of T2 Biosystems in a report on Wednesday, May 30th. Finally, Leerink Swann upgraded shares of T2 Biosystems from a market perform rating to an outperform rating in a report on Friday, June 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $8.05.

Shares of T2 Biosystems stock opened at $6.32 on Thursday. T2 Biosystems has a twelve month low of $3.60 and a twelve month high of $9.98. The company has a quick ratio of 7.10, a current ratio of 7.31 and a debt-to-equity ratio of 1.22.

T2 Biosystems (NASDAQ:TTOO) last issued its quarterly earnings results on Thursday, August 2nd. The medical equipment provider reported ($0.32) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.32). The firm had revenue of $3.90 million for the quarter, compared to analyst estimates of $2.97 million. T2 Biosystems had a negative net margin of 637.62% and a negative return on equity of 556.22%. T2 Biosystems’s quarterly revenue was up 307.9% compared to the same quarter last year. During the same period last year, the company posted ($0.50) EPS. research analysts predict that T2 Biosystems will post -1.32 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in TTOO. JPMorgan Chase & Co. raised its holdings in T2 Biosystems by 8,321.5% in the 1st quarter. JPMorgan Chase & Co. now owns 137,271 shares of the medical equipment provider’s stock valued at $891,000 after acquiring an additional 135,641 shares during the last quarter. Sandia Holdings LLC acquired a new stake in T2 Biosystems in the 1st quarter valued at about $3,532,000. Tibra Equities Europe Ltd acquired a new stake in shares of T2 Biosystems during the 1st quarter worth approximately $338,000. UBS Group AG increased its holdings in shares of T2 Biosystems by 635.8% during the 1st quarter. UBS Group AG now owns 41,756 shares of the medical equipment provider’s stock worth $271,000 after buying an additional 36,081 shares during the last quarter. Finally, Element Capital Management LLC acquired a new stake in shares of T2 Biosystems during the 1st quarter worth approximately $200,000. Institutional investors own 59.12% of the company’s stock.

About T2 Biosystems

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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Analyst Recommendations for T2 Biosystems (NASDAQ:TTOO)

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