T2 Biosystems (TTOO) Receives $5.94 Average PT from Brokerages

Shares of T2 Biosystems (NASDAQ:TTOO) have been assigned a consensus rating of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $5.94.

Several analysts recently weighed in on the stock. ValuEngine downgraded shares of T2 Biosystems from a “hold” rating to a “sell” rating in a research report on Wednesday. Zacks Investment Research cut shares of T2 Biosystems from a “buy” rating to a “hold” rating in a research note on Tuesday, April 3rd. HC Wainwright raised their target price on shares of T2 Biosystems from $8.00 to $8.50 and gave the company a “buy” rating in a research note on Thursday, March 29th. Finally, Goldman Sachs assumed coverage on shares of T2 Biosystems in a research note on Monday, January 29th. They set a “neutral” rating and a $5.20 target price on the stock.

NASDAQ:TTOO traded down $0.01 during mid-day trading on Wednesday, hitting $6.97. The stock had a trading volume of 162,395 shares, compared to its average volume of 190,566. T2 Biosystems has a 52 week low of $2.50 and a 52 week high of $7.53. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 1.29.

A number of institutional investors have recently added to or reduced their stakes in TTOO. Point72 Asset Management L.P. acquired a new position in T2 Biosystems during the 3rd quarter valued at about $630,000. Geode Capital Management LLC increased its stake in T2 Biosystems by 41.9% during the 4th quarter. Geode Capital Management LLC now owns 134,470 shares of the medical equipment provider’s stock valued at $554,000 after buying an additional 39,722 shares during the period. Finally, Renaissance Technologies LLC increased its stake in T2 Biosystems by 72.2% during the 4th quarter. Renaissance Technologies LLC now owns 83,500 shares of the medical equipment provider’s stock valued at $344,000 after buying an additional 35,000 shares during the period. 52.33% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for T2 Biosystems (NASDAQ:TTOO)

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