T2 Biosystems (TTOO) Given a $11.00 Price Target at Cantor Fitzgerald

Cantor Fitzgerald set a $11.00 price target on T2 Biosystems (NASDAQ:TTOO) in a research report sent to investors on Friday. The firm currently has a buy rating on the medical equipment provider’s stock.

Several other equities analysts have also recently issued reports on the company. BidaskClub cut T2 Biosystems from a hold rating to a sell rating in a report on Wednesday, July 11th. HC Wainwright set a $14.00 price target on T2 Biosystems and gave the company a buy rating in a report on Friday, August 3rd. ValuEngine cut T2 Biosystems from a buy rating to a hold rating in a report on Thursday, September 13th. Finally, Zacks Investment Research upgraded T2 Biosystems from a sell rating to a hold rating in a report on Thursday, August 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $9.30.

Shares of NASDAQ:TTOO traded up $0.56 during midday trading on Friday, reaching $5.84. The company’s stock had a trading volume of 903,129 shares, compared to its average volume of 611,405. T2 Biosystems has a fifty-two week low of $3.75 and a fifty-two week high of $9.98. 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 (NASDAQ:TTOO) last announced its earnings results on Thursday, November 1st. The medical equipment provider reported ($0.25) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.08. T2 Biosystems had a negative return on equity of 699.71% and a negative net margin of 522.30%. The company had revenue of $2.50 million during the quarter, compared to analyst estimates of $2.44 million. During the same period last year, the company posted ($0.45) earnings per share. The firm’s quarterly revenue was up 127.3% compared to the same quarter last year. As a group, research analysts forecast that T2 Biosystems will post -1.33 earnings per share for the current year.

In related news, insider Thomas J. Lowery sold 138,144 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $6.18, for a total value of $853,729.92. Following the transaction, the insider now owns 57,873 shares in the company, valued at $357,655.14. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 31.50% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of TTOO. Raymond James & Associates bought a new position in T2 Biosystems in the second quarter valued at about $100,000. Creative Planning bought a new position in T2 Biosystems during the third quarter worth about $112,000. Staley Capital Advisers Inc. bought a new position in T2 Biosystems during the second quarter worth about $116,000. Zacks Investment Management bought a new position in T2 Biosystems during the second quarter worth about $124,000. Finally, Thompson Davis & CO. Inc. bought a new position in T2 Biosystems during the second quarter worth about $127,000. Institutional investors and hedge funds own 59.00% 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. 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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