Wall Street brokerages predict that T2 Biosystems Inc (NASDAQ:TTOO) will announce sales of $2.01 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for T2 Biosystems’ earnings, with estimates ranging from $1.95 million to $2.10 million. T2 Biosystems reported sales of $3.93 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 48.9%. The business is expected to report its next quarterly earnings results on Thursday, August 1st.
According to Zacks, analysts expect that T2 Biosystems will report full year sales of $20.07 million for the current fiscal year, with estimates ranging from $19.21 million to $21.00 million. For the next fiscal year, analysts expect that the company will post sales of $39.99 million, with estimates ranging from $35.38 million to $44.60 million. Zacks’ sales averages are an average based on a survey of research firms that cover T2 Biosystems.
T2 Biosystems (NASDAQ:TTOO) last posted its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.34) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.04). T2 Biosystems had a negative return on equity of 325.79% and a negative net margin of 535.26%. The firm had revenue of $1.80 million for the quarter, compared to the consensus estimate of $1.38 million. During the same period last year, the company posted ($0.36) earnings per share. The business’s revenue was down 21.7% compared to the same quarter last year.
Several research firms have issued reports on TTOO. Zacks Investment Research lowered shares of T2 Biosystems from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. Canaccord Genuity reaffirmed a “buy” rating and set a $10.00 price target on shares of T2 Biosystems in a research report on Tuesday, March 5th. Cantor Fitzgerald set a $11.00 price target on shares of T2 Biosystems and gave the stock a “buy” rating in a research report on Tuesday, March 5th. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price target (down from $14.00) on shares of T2 Biosystems in a research report on Friday, March 8th. Finally, Alliance Global Partners assumed coverage on shares of T2 Biosystems in a research report on Thursday, May 16th. They set a “buy” rating and a $5.00 price target on the stock. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $7.79.
NASDAQ TTOO traded up $0.02 on Friday, hitting $2.10. 1,411,660 shares of the stock were exchanged, compared to its average volume of 747,528. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 0.04. T2 Biosystems has a 52 week low of $1.75 and a 52 week high of $9.98. The firm has a market capitalization of $93.11 million, a P/E ratio of -1.67 and a beta of 1.77.
Several institutional investors and hedge funds have recently modified their holdings of the company. Creative Planning raised its position in shares of T2 Biosystems by 28.0% in the fourth quarter. Creative Planning now owns 19,200 shares of the medical equipment provider’s stock valued at $58,000 after purchasing an additional 4,200 shares during the period. Cable Hill Partners LLC raised its position in shares of T2 Biosystems by 100.0% in the first quarter. Cable Hill Partners LLC now owns 10,000 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 5,000 shares during the period. State of Wisconsin Investment Board raised its position in shares of T2 Biosystems by 29.3% in the first quarter. State of Wisconsin Investment Board now owns 41,500 shares of the medical equipment provider’s stock valued at $109,000 after purchasing an additional 9,400 shares during the period. Wiley BROS. Aintree Capital LLC bought a new position in shares of T2 Biosystems in the first quarter valued at about $26,000. Finally, Focused Wealth Management Inc raised its position in shares of T2 Biosystems by 48.7% in the first quarter. Focused Wealth Management Inc now owns 30,550 shares of the medical equipment provider’s stock valued at $80,000 after purchasing an additional 10,000 shares during the period. 48.49% of the stock is currently owned by institutional investors.
T2 Biosystems Company Profile
T2 Biosystems, Inc, an in vitro diagnostics company, develops diagnostic products and product candidates in the United States and internationally. It provides T2 Magnetic Resonance platform that enables detection of pathogens, biomarkers, and other abnormalities in various unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum, and urine.
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