T2 Biosystems Inc (TTOO) Given Consensus Rating of “Buy” by Brokerages

Shares of T2 Biosystems Inc (NASDAQ:TTOO) have been assigned an average rating of “Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $8.94.

TTOO has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of T2 Biosystems from a “hold” rating to a “buy” rating and set a $5.75 price objective on the stock in a research note on Thursday, November 8th. HC Wainwright set a $14.00 price objective on shares of T2 Biosystems and gave the company a “buy” rating in a research note on Friday, November 2nd. Cantor Fitzgerald set a $11.00 price objective on shares of T2 Biosystems and gave the company a “buy” rating in a research note on Friday, November 2nd. ValuEngine cut shares of T2 Biosystems from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, Goldman Sachs Group set a $5.00 price objective on shares of T2 Biosystems and gave the company a “hold” rating in a research note on Friday, November 30th.

Shares of NASDAQ TTOO opened at $3.40 on Tuesday. T2 Biosystems has a fifty-two week low of $2.94 and a fifty-two week high of $9.98. The company has a debt-to-equity ratio of 1.66, a current ratio of 7.16 and a quick ratio of 6.81.

In related news, CEO John Mcdonough sold 14,338 shares of T2 Biosystems stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $3.43, for a total transaction of $49,179.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 23,448 shares of company stock worth $80,427. Company insiders own 31.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in TTOO. Bank of New York Mellon Corp grew its holdings in T2 Biosystems by 183.6% during the second quarter. Bank of New York Mellon Corp now owns 71,935 shares of the medical equipment provider’s stock worth $556,000 after acquiring an additional 46,567 shares during the period. Schwab Charles Investment Management Inc. acquired a new position in T2 Biosystems during the second quarter worth about $444,000. BlackRock Inc. grew its holdings in T2 Biosystems by 1,036.1% during the second quarter. BlackRock Inc. now owns 1,825,811 shares of the medical equipment provider’s stock worth $14,131,000 after acquiring an additional 1,665,105 shares during the period. Raymond James & Associates acquired a new position in T2 Biosystems during the second quarter worth about $100,000. Finally, Northern Trust Corp grew its holdings in T2 Biosystems by 474.7% during the second quarter. Northern Trust Corp now owns 312,079 shares of the medical equipment provider’s stock worth $2,416,000 after acquiring an additional 257,772 shares during the period. 54.74% of the stock is currently owned by hedge funds and other institutional investors.

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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