In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on T2 Biosystems (NASDAQ: TTOO), with a price target of $8.50. The company’s shares closed yesterday at $6.10.
According to TipRanks.com, Selvaraju has 0 stars on 0-5 star ranking scale with an average return of -5.8% and a 37.5% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
Currently, the analyst consensus on T2 Biosystems is Strong Buy and the average price target is $7.75, representing a 27.0% upside.
In a report released today, Janney Montgomery also upgraded the stock to Buy.
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Based on T2 Biosystems’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $18.19 million. In comparison, last year the company had a GAAP net loss of $14.7 million.
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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.
