In a report released today, Soumit Roy from JonesTrading reiterated a Hold rating on T2 Biosystems (TTOO). The company’s shares closed last Monday at $1.91.
Roy commented:
“T2’s recent contracts with BARDA and Premier, NTAP reimbursement and restructuring of CRG loan agreement add to the strengthening position of T2 Biosystem. Key development among these is the NTAP reimbursement which would cover approx. $100 per test or about 2/3 rd of the test cost. Medicare will provide the add-on payment with NTAP in addition to MS-DRG reimbursement. As approx.”
According to TipRanks.com, Roy is ranked 0 out of 5 stars with an average return of -16.4% and a 28.1% success rate. Roy covers the Healthcare sector, focusing on stocks such as Aeglea Biotherapeutics Inc, Adaptimmune Therapeutics, and Neon Therapeutics Inc.
Currently, the analyst consensus on T2 Biosystems is a Hold with an average price target of $1.45.
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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 $15.65 million. In comparison, last year the company had a GAAP net loss of $12.32 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.
