In a report released today, Puneet Souda from Leerink Partners maintained a Buy rating on T2 Biosystems (TTOO), with a price target of $3.00. The company’s shares closed last Tuesday at $2.81.
According to TipRanks.com, Souda is a 5-star analyst with an average return of 40.5% and a 81.6% success rate. Souda covers the Healthcare sector, focusing on stocks such as AbCellera Biologics, Castle Biosciences, and Twist Bioscience.
Currently, the analyst consensus on T2 Biosystems is a Strong Buy with an average price target of $3.33, which is a 52.8% 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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T2 Biosystems’ market cap is currently $276.7M and has a P/E ratio of -3.10. The company has a Price to Book ratio of 17.76.
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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.
