HC Wainwright restated their buy rating on shares of T2 Biosystems (NASDAQ:TTOO) in a research note issued to investors on Monday morning, AnalystRatings.com reports. The firm currently has a $11.00 price target on the medical equipment provider’s stock.
“Our price target is derived from an estimated market value of the firm at $557M, which includes a discounted cash flow analysis based asset value of $600M for T2Dx instrument and test panels, with a 15% discount rate and 0% terminal growth rate, excluding $42M outstanding debt.”,” the firm’s analyst commented.
Several other equities analysts have also recently issued reports on TTOO. Zacks Investment Research cut T2 Biosystems from a hold rating to a sell rating in a report on Tuesday, March 5th. ValuEngine cut T2 Biosystems from a hold rating to a sell rating in a report on Wednesday, May 1st. Alliance Global Partners assumed coverage on T2 Biosystems in a report on Thursday, May 16th. They issued a buy rating and a $5.00 price target on the stock. Cantor Fitzgerald reiterated a buy rating and issued a $10.00 price target on shares of T2 Biosystems in a report on Friday, May 3rd. Finally, Canaccord Genuity reiterated a buy rating and issued a $10.00 price target on shares of T2 Biosystems in a report on Tuesday, March 5th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. T2 Biosystems has an average rating of Hold and a consensus price target of $7.79.
T2 Biosystems (NASDAQ:TTOO) last posted its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.04). The firm had revenue of $1.80 million during the quarter, compared to the consensus estimate of $1.38 million. T2 Biosystems had a negative net margin of 535.26% and a negative return on equity of 325.79%. T2 Biosystems’s revenue was down 21.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.36) EPS. As a group, equities analysts predict that T2 Biosystems will post -1.15 EPS for the current year.
Institutional investors and hedge funds have recently modified their holdings of the business. Wiley BROS. Aintree Capital LLC bought a new position in T2 Biosystems during the first quarter worth about $26,000. Cable Hill Partners LLC boosted its holdings in T2 Biosystems by 100.0% during the first quarter. Cable Hill Partners LLC now owns 10,000 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 5,000 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in T2 Biosystems during the fourth quarter worth about $37,000. Bell & Brown Wealth Advisors LLC bought a new position in T2 Biosystems during the fourth quarter worth about $38,000. Finally, Lau Associates LLC bought a new position in T2 Biosystems during the first quarter worth about $33,000. Hedge funds and other institutional investors own 48.75% 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 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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