T2 Biosystems Inc (TTOO) was Upgraded by WBB Securities to ” Buy” and the brokerage firm has set the Price Target at $11. Earlier the firm had a rating of “Speculative Buy ” on the company shares. WBB Securities advised their investors in a research report released on Jun 22, 2016.
Many Wall Street Analysts have commented on T2 Biosystems Inc. Shares were Reiterated by Canaccord Genuity on Apr 12, 2016 to “Buy” and Lowered the Price Target to $ 12 from a previous price target of $13 .
On the company’s financial health, T2 Biosystems Inc reported $-0.55 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on May 2, 2016. Analyst had a consensus of $-0.54. The company had revenue of $1.10 million for the quarter, compared to analysts expectations of $1.01 million. The company’s revenue was up 485.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.53 EPS.
T2 Biosystems Inc opened for trading at $8.82 and hit $8.95 on the upside on Monday, eventually ending the session at $8.76, with a gain of 2.34% or 0.2 points. The heightened volatility saw the trading volume jump to 40,481 shares. Company has a market cap of $213 M.
In a different news, on Mar 18, 2016, Rahul Dhanda (SVP of Corporate Development) sold 7,588 shares at $8.02 per share price. According to the SEC, on Dec 10, 2015, David B Elsbree (director) purchased 10,000 shares at $9.75 per share price. On Aug 11, 2015, Michael J. Cima (director) purchased 1,000 shares at $14.01 per share price, according to the Form-4 filing with the securities and exchange commission.
T2 Biosystems Inc. is an in vitro diagnostics company that has developed a technology platform offering an alternative to diagnostic methodologies. The Company’s T2 Magnetic Resonance platform (T2MR) enables detection of pathogens biomarkers and other abnormalities in a range of unpurified patient sample types including whole blood plasma serum saliva sputum and urine and can detect cellular targets at limits of detection as one colony forming unit per milliliter (CFU/mL). The Company’s initial development efforts target sepsis hemostasis and Lyme disease areas of significant unmet medical need. Its platform detects a range of targets including molecular targets such as deoxyribonucleic acid (DNA) immunodiagnostics such as proteins and a range of hemostasis measurements. The initial panels designed to run on T2Dx are T2Candida and T2Bacteria which are focused on identifying life-threatening pathogens associated with sepsis.