In a report released today, Jordan Abrams from Cantor Fitzgerald reiterated a Buy rating on T2 Biosystems (NASDAQ: TTOO), with a price target of $11. The company’s shares closed yesterday at $5.28.
Abrams wrote:
“: We reiterate our Overweight rating and 12-month PT of $11 on shares of TTOO. T2 reported 3Q18 revenue of $2.5MM, $0.2MM ahead of FactSet consensus. During the quarter, T2 placed 11 T2Dx instruments, implying at least 9 T2Dx placements in 4Q to hit guidance of 20-25 instruments in 2H18. We are encouraged by T2’s ability to deliver on its guidance in the early days of T2Bacteria. T2Bacteria is just beginning to be used in Europe and is becoming more active in the US. We continue to think that as T2 delivers on expectations of product revenue and shows progress in T2Bacteria adoption that the stock will be rewarded accordingly.”
According to TipRanks.com, Abrams is ranked #3386 out of 4908 analysts.
Currently, the analyst consensus on T2 Biosystems is a Moderate Buy with an average price target of $12.50.
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The company has a one-year high of $9.98 and a one-year low of $3.75. Currently, T2 Biosystems has an average volume of 584.6K.
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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.
