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 on Friday at $6.46.
According to TipRanks.com, Selvaraju is a 3-star analyst with an average return of 1.9% and a 38.5% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, Synergy Pharmaceuticals Inc, and Bausch Health Companies Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for T2 Biosystems with a $12.50 average price target, which is a 93.5% upside from current levels. In a report issued on September 26, Cantor Fitzgerald also maintained a Buy rating on the stock with a $11 price target.
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Based on T2 Biosystems’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $12.32 million. In comparison, last year the company had a GAAP net loss of $14.08 million.
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T2 Biosystems, Inc. engages in the development of 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.
