$3.35 Million in Sales Expected for T2 Biosystems Inc (NASDAQ:TTOO) This Quarter

Analysts expect T2 Biosystems Inc (NASDAQ:TTOO) to report sales of $3.35 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for T2 Biosystems’ earnings. The highest sales estimate is $5.30 million and the lowest is $2.10 million. T2 Biosystems posted sales of $2.47 million in the same quarter last year, which suggests a positive year-over-year growth rate of 35.6%. The business is expected to issue its next quarterly earnings report on Thursday, November 7th.

According to Zacks, analysts expect that T2 Biosystems will report full-year sales of $8.86 million for the current fiscal year, with estimates ranging from $8.70 million to $9.02 million. For the next year, analysts anticipate that the firm will post sales of $24.23 million, with estimates ranging from $13.80 million to $40.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for T2 Biosystems.

T2 Biosystems (NASDAQ:TTOO) last announced its quarterly earnings data on Tuesday, July 30th. The medical equipment provider reported ($0.35) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.03). 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 during the quarter, compared to the consensus estimate of $1.95 million. During the same quarter in the prior year, the business posted ($0.32) EPS. T2 Biosystems’s revenue was down 53.8% compared to the same quarter last year.

TTOO has been the subject of a number of research reports. Cantor Fitzgerald downgraded T2 Biosystems from an “overweight” rating to a “neutral” rating in a research report on Wednesday. HC Wainwright downgraded T2 Biosystems from a “buy” rating to a “neutral” rating in a research report on Wednesday. ValuEngine upgraded T2 Biosystems from a “sell” rating to a “hold” rating in a research report on Thursday. Alliance Global Partners downgraded T2 Biosystems from a “buy” rating to a “neutral” rating and cut their target price for the stock from $5.00 to $0.40 in a research report on Thursday. Finally, Janney Montgomery Scott downgraded T2 Biosystems from a “buy” rating to a “neutral” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. T2 Biosystems presently has an average rating of “Hold” and an average price target of $6.19.

Shares of TTOO stock traded up $0.03 during mid-day trading on Friday, reaching $0.61. The stock had a trading volume of 94,124 shares, compared to its average volume of 627,803. The company has a 50 day moving average of $1.62. 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 one year low of $0.52 and a one year high of $7.70. The company has a market capitalization of $63.85 million, a price-to-earnings ratio of -0.48 and a beta of 1.66.

A number of hedge funds have recently added to or reduced their stakes in TTOO. Wiley BROS. Aintree Capital LLC increased its position in T2 Biosystems by 150.0% during the second quarter. Wiley BROS. Aintree Capital LLC now owns 25,000 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 15,000 shares during the last quarter. Gagnon Securities LLC lifted its holdings in shares of T2 Biosystems by 124.3% in the 1st quarter. Gagnon Securities LLC now owns 149,065 shares of the medical equipment provider’s stock worth $392,000 after acquiring an additional 82,605 shares during the last quarter. Cable Hill Partners LLC lifted its holdings in shares of T2 Biosystems by 100.0% in the 1st quarter. Cable Hill Partners LLC now owns 10,000 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 5,000 shares during the last quarter. Keybank National Association OH lifted its holdings in shares of T2 Biosystems by 44.4% in the 1st quarter. Keybank National Association OH now owns 65,000 shares of the medical equipment provider’s stock worth $171,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Lau Associates LLC bought a new stake in shares of T2 Biosystems in the 1st quarter worth about $33,000. 46.19% of the stock is owned by hedge funds and other institutional investors.

About T2 Biosystems

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.

Further Reading: What is a growth and income fund?

Get a free copy of the Zacks research report on T2 Biosystems (TTOO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for T2 Biosystems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T2 Biosystems and related companies with MarketBeat.com's FREE daily email newsletter.