In a report released yesterday, Ben Haynor from Alliance Global Partners downgraded T2 Biosystems (TTOO) to Hold, with a price target of $2.40. The company’s shares closed last Wednesday at $2.24, close to its 52-week high of $2.31.
According to TipRanks.com, Haynor is a 2-star analyst with an average return of 0.8% and a 45.8% success rate. Haynor covers the Healthcare sector, focusing on stocks such as Kindred Biosciences, Imac Holdings, and Eyegate.
Currently, the analyst consensus on T2 Biosystems is a Strong Buy with an average price target of $3.10.
See today’s analyst top recommended stocks >>
Based on T2 Biosystems’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $5.25 million and GAAP net loss of $11.26 million. In comparison, last year the company earned revenue of $1.68 million and had a GAAP net loss of $14.17 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
