.png "T2 Biosystems (NASDAQ: TTOO)")
H.C. Wainwright analyst Yi Chen reiterated a Hold rating on T2 Biosystems (TTOO) today. The company’s shares closed yesterday at $0.82, close to its 52-week low of $0.52.
Chen commented:
“We do not currently have a price target on TTOO shares. Risks include, but are not limited to: (1) failure of to achieve commercial success due to market size, penetration rate, and/or competition; (2) failure to secure regulatory approval for T2Lyme; and (3) potential dilution risk.”
According to TipRanks.com, Chen has 0 stars on 0-5 star ranking scale with an average return of -19.9% and a 32.8% success rate. Chen covers the Healthcare sector, focusing on stocks such as EyePoint Pharmaceuticals Inc, Stealth Biotherapeutics Corp, and Aerpio Pharmaceuticals Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for T2 Biosystems with a $1.45 average price target, implying a 77.1% upside from current levels. In a report issued on July 31, JonesTrading also downgraded the stock to Hold.
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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.
