JonesTrading analyst Soumit Roy reiterated a Buy rating on T2 Biosystems (TTOO) today and set a price target of $3.50. The company’s shares closed last Wednesday at $2.26, close to its 52-week high of $2.31.
According to TipRanks.com, Roy is a top 100 analyst with an average return of 80.9% and a 62.4% success rate. Roy covers the Healthcare sector, focusing on stocks such as Deciphera Pharmaceuticals, Actinium Pharmaceuticals, and Adaptimmune Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for T2 Biosystems with a $3.33 average price target, which is a 41.7% upside from current levels. In a report released yesterday, Canaccord Genuity also maintained a Buy rating on the stock with a $3.50 price target.
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The company has a one-year high of $2.31 and a one-year low of $0.24. Currently, T2 Biosystems has an average volume of 7.4M.
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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.
