T2 Biosystems (NASDAQ:TTOO) has been given a $8.00 price target by equities research analysts at HC Wainwright in a research note issued on Monday. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. HC Wainwright’s target price indicates a potential upside of 86.92% from the company’s previous close.

TTOO has been the topic of several other reports. Zacks Investment Research raised shares of T2 Biosystems from a “hold” rating to a “buy” rating and set a $4.75 price objective on the stock in a research report on Wednesday, November 8th. Canaccord Genuity reissued a “buy” rating and set a $6.00 price objective on shares of T2 Biosystems in a research report on Monday, October 30th. Finally, Goldman Sachs Group started coverage on shares of T2 Biosystems in a research report on Monday, January 29th. They set a “neutral” rating and a $5.20 price objective on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $5.56.

Shares of T2 Biosystems (NASDAQ TTOO) traded down $0.26 during trading on Monday, reaching $4.28. 316,100 shares of the company’s stock traded hands, compared to its average volume of 251,466. T2 Biosystems has a 52 week low of $2.50 and a 52 week high of $6.99. The company has a debt-to-equity ratio of 2.25, a current ratio of 5.40 and a quick ratio of 5.28. The stock has a market cap of $153.33, a P/E ratio of -2.25 and a beta of 1.71.

Hedge funds have recently added to or reduced their stakes in the company. Susquehanna International Group LLP lifted its stake in shares of T2 Biosystems by 931.3% in the 2nd quarter. Susquehanna International Group LLP now owns 85,620 shares of the medical equipment provider’s stock worth $275,000 after acquiring an additional 95,920 shares during the period. Gagnon Securities LLC acquired a new stake in shares of T2 Biosystems in the 3rd quarter worth $396,000. Point72 Asset Management L.P. acquired a new stake in shares of T2 Biosystems in the 3rd quarter worth $630,000. Essex Investment Management Co. LLC lifted its stake in shares of T2 Biosystems by 239.2% in the 3rd quarter. Essex Investment Management Co. LLC now owns 706,194 shares of the medical equipment provider’s stock worth $2,966,000 after acquiring an additional 498,004 shares during the period. Finally, Lagoda Investment Management L.P. lifted its stake in shares of T2 Biosystems by 61.4% in the 3rd quarter. Lagoda Investment Management L.P. now owns 3,188,539 shares of the medical equipment provider’s stock worth $13,392,000 after acquiring an additional 1,212,618 shares during the period. Institutional investors own 59.65% of the company’s stock.

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About T2 Biosystems

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).

Analyst Recommendations for T2 Biosystems (NASDAQ:TTOO)

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