Equities research analysts at Alliance Global Partners began coverage on shares of T2 Biosystems (NASDAQ:TTOO) in a research report issued on Thursday, Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $5.00 price target on the medical equipment provider’s stock. Alliance Global Partners’ target price would suggest a potential upside of 90.84% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Cantor Fitzgerald reiterated a “buy” rating and set a $10.00 price objective on shares of T2 Biosystems in a research report on Friday, May 3rd. HC Wainwright reiterated a “buy” rating and set a $11.00 price objective (down previously from $14.00) on shares of T2 Biosystems in a research report on Friday, March 8th. Zacks Investment Research cut T2 Biosystems from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. ValuEngine cut T2 Biosystems from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Finally, Canaccord Genuity reiterated a “buy” rating and set a $10.00 price objective on shares of T2 Biosystems in a research report on Tuesday, March 5th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. T2 Biosystems has a consensus rating of “Hold” and a consensus price target of $7.79.

TTOO stock opened at $2.62 on Thursday. The company has a current ratio of 0.81, a quick ratio of 1.03 and a debt-to-equity ratio of 0.04. The firm has a market cap of $112.18 million, a price-to-earnings ratio of -2.08 and a beta of 1.77. T2 Biosystems has a fifty-two week low of $2.41 and a fifty-two week high of $9.98.

T2 Biosystems (NASDAQ:TTOO) last posted its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.04). The firm had revenue of $1.80 million for the quarter, compared to the consensus estimate of $1.38 million. T2 Biosystems had a negative return on equity of 325.79% and a negative net margin of 535.26%. The firm’s quarterly revenue was down 21.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.36) EPS. As a group, equities analysts expect that T2 Biosystems will post -1.11 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its holdings in shares of T2 Biosystems by 0.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,302,629 shares of the medical equipment provider’s stock worth $11,316,000 after purchasing an additional 13,289 shares in the last quarter. BlackRock Inc. grew its holdings in shares of T2 Biosystems by 20.5% during the 1st quarter. BlackRock Inc. now owns 2,478,663 shares of the medical equipment provider’s stock worth $6,519,000 after purchasing an additional 422,441 shares in the last quarter. Vanguard Group Inc grew its holdings in shares of T2 Biosystems by 8.6% during the 3rd quarter. Vanguard Group Inc now owns 1,621,740 shares of the medical equipment provider’s stock worth $12,082,000 after purchasing an additional 128,724 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of T2 Biosystems by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,621,740 shares of the medical equipment provider’s stock worth $12,082,000 after purchasing an additional 128,724 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of T2 Biosystems by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 375,582 shares of the medical equipment provider’s stock worth $1,130,000 after purchasing an additional 13,552 shares in the last quarter. 48.75% of the stock is currently owned by institutional investors.

About T2 Biosystems

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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