Shares of T2 Biosystems Inc (NASDAQ:TTOO) have been given an average rating of “Hold” by the eight research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $8.40.

A number of research firms have recently issued reports on TTOO. ValuEngine downgraded shares of T2 Biosystems from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 21st. HC Wainwright reiterated a “buy” rating and issued a $14.00 price objective on shares of T2 Biosystems in a report on Thursday, June 14th. BidaskClub upgraded shares of T2 Biosystems from a “hold” rating to a “buy” rating in a report on Thursday, May 24th. Leerink Swann upgraded shares of T2 Biosystems from a “market perform” rating to an “outperform” rating in a report on Friday, June 1st. Finally, Zacks Investment Research upgraded shares of T2 Biosystems from a “sell” rating to a “hold” rating in a report on Thursday, August 9th.

Several hedge funds and other institutional investors have recently bought and sold shares of TTOO. JPMorgan Chase & Co. raised its holdings in shares of T2 Biosystems by 8,321.5% in the first quarter. JPMorgan Chase & Co. now owns 137,271 shares of the medical equipment provider’s stock valued at $891,000 after purchasing an additional 135,641 shares during the last quarter. Sandia Holdings LLC bought a new position in shares of T2 Biosystems in the first quarter valued at $3,532,000. Tibra Equities Europe Ltd bought a new position in shares of T2 Biosystems in the first quarter valued at $338,000. UBS Group AG grew its stake in shares of T2 Biosystems by 635.8% in the first quarter. UBS Group AG now owns 41,756 shares of the medical equipment provider’s stock valued at $271,000 after buying an additional 36,081 shares in the last quarter. Finally, Element Capital Management LLC bought a new position in shares of T2 Biosystems in the first quarter valued at $200,000. Institutional investors own 59.12% of the company’s stock.

TTOO stock traded down $0.11 during mid-day trading on Friday, hitting $6.16. 2,800 shares of the company were exchanged, compared to its average volume of 386,549. The company has a debt-to-equity ratio of 1.22, a quick ratio of 7.10 and a current ratio of 7.31. T2 Biosystems has a 1-year low of $3.60 and a 1-year high of $9.98.

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

T2 Biosystems Company Profile

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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