In a report released yesterday, Max Masucci from Canaccord Genuity maintained a Buy rating on T2 Biosystems (TTOO), with a price target of $3.50. The company’s shares closed last Thursday at $1.16.
According to TipRanks.com, Masucci is a 5-star analyst with an average return of 57.7% and a 65.3% success rate. Masucci covers the Healthcare sector, focusing on stocks such as Castle Biosciences, Genetron Holdings, and Guardant Health.
Currently, the analyst consensus on T2 Biosystems is a Moderate Buy with an average price target of $2.72.
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Based on T2 Biosystems’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $7.79 million and GAAP net loss of $9.91 million. In comparison, last year the company earned revenue of $3.07 million and had a GAAP net loss of $14.04 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. It products include T2Bacteria Panel, T2Candida Panel, T2Dx Instrument, AND T2MR Technology. 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.
