H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on T2 Biosystems (NASDAQ: TTOO) today and set a price target of $14. The company’s shares closed yesterday at $8.06, close to its 52-week high of $9.05.
Selvaraju commented:
“We note that T2Bacteria identifies five of the most common and deadly sepsis-causing species of bacteria, has 90% sensitivity and 98% specificity, and is the first FDA-cleared test to identify sepsis-causing bacteria directly from whole blood. Importantly, T2Bacteria provides test results in approximately five hours, which is more than 2.5 days faster than blood culture-dependent tests. This difference in time-to-result is clinically meaningful since rapid targeted treatment based on identification of causative pathogens is critical for clinical outcome, and every hour saved in time to implement a targeted therapy could decrease patient mortality by 8%, according to published literature.”
According to TipRanks.com, Selvaraju has 0 stars on 0-5 star ranking scale with an average return of -2.7% and a 38.2% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
T2 Biosystems has an analyst consensus of Strong Buy, with a price target consensus of $7.75.
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The company has a one-year high of $9.05 and a one-year low of $2.50. Currently, T2 Biosystems has an average volume of 392.8K.
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T2 Biosystems, Inc. engages in the development of innovative and proprietary technology platform. It offers the T2 Magnetic Resonance technology which enables rapid detection of pathogens, biomarkers and other abnormalities in a variety of unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum and urine, and can detect cellular targets at limits of detection including one colony forming unit per milliliter. The company was founded by Michael J. Cima, Robert S. Langer Jr., Tyler Jacks, Lee Josephson, W. David Lee, and Ralph Weissleder on April 27, 2006 and is headquartered in Lexington, MA.
