T2 Biosystems (NASDAQ:TTOO) Upgraded at Janney Montgomery Scott

Janney Montgomery Scott upgraded shares of T2 Biosystems (NASDAQ:TTOO) from a neutral rating to a buy rating in a research report released on Thursday morning, The Fly reports.

Several other research firms also recently weighed in on TTOO. ValuEngine upgraded shares of T2 Biosystems from a sell rating to a hold rating in a research report on Thursday, August 1st. Zacks Investment Research downgraded shares of T2 Biosystems from a buy rating to a hold rating in a research report on Thursday, August 1st. Cantor Fitzgerald downgraded shares of T2 Biosystems from an overweight rating to a neutral rating in a research report on Wednesday, July 31st. Canaccord Genuity restated a buy rating and set a $3.50 price target (up previously from $2.50) on shares of T2 Biosystems in a research report on Wednesday, September 11th. Finally, Alliance Global Partners downgraded shares of T2 Biosystems from a buy rating to a neutral rating and reduced their price target for the stock from $5.00 to $0.40 in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. T2 Biosystems has a consensus rating of Hold and an average target price of $4.71.

Shares of T2 Biosystems stock opened at $2.88 on Thursday. The firm has a 50-day simple moving average of $1.16 and a two-hundred day simple moving average of $2.09. The company has a market cap of $134.05 million, a P/E ratio of -2.29 and a beta of 1.15. T2 Biosystems has a fifty-two week low of $0.52 and a fifty-two week high of $7.70. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.52 and a current ratio of 0.58.

T2 Biosystems (NASDAQ:TTOO) last released its quarterly earnings results on Tuesday, July 30th. The medical equipment provider reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.03). T2 Biosystems had a negative return on equity of 1,263.94% and a negative net margin of 722.70%. The company had revenue of $1.80 million for the quarter, compared to analyst estimates of $1.95 million. During the same quarter last year, the company earned ($0.32) EPS. The firm’s revenue for the quarter was down 53.8% on a year-over-year basis. Equities research analysts forecast that T2 Biosystems will post -1.2 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in TTOO. JPMorgan Chase & Co. raised its holdings in T2 Biosystems by 7,546.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 732,400 shares of the medical equipment provider’s stock valued at $1,150,000 after acquiring an additional 722,822 shares during the last quarter. Vanguard Group Inc. raised its holdings in T2 Biosystems by 20.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,390,197 shares of the medical equipment provider’s stock valued at $2,336,000 after acquiring an additional 234,369 shares during the last quarter. Jane Street Group LLC acquired a new stake in T2 Biosystems in the 2nd quarter valued at about $316,000. Paloma Partners Management Co acquired a new stake in T2 Biosystems in the 2nd quarter valued at about $235,000. Finally, Gagnon Securities LLC raised its holdings in T2 Biosystems by 124.3% in the 1st quarter. Gagnon Securities LLC now owns 149,065 shares of the medical equipment provider’s stock valued at $392,000 after acquiring an additional 82,605 shares during the last quarter. Institutional investors own 38.43% of the company’s stock.

T2 Biosystems Company Profile

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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Analyst Recommendations for T2 Biosystems (NASDAQ:TTOO)

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