T2 Biosystems (NASDAQ:TTOO) Lowered to “Neutral” at Alliance Global Partners

Alliance Global Partners cut shares of T2 Biosystems (NASDAQ:TTOO) from a buy rating to a neutral rating in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. The firm currently has $0.40 target price on the medical equipment provider’s stock, down from their previous target price of $5.00.

Several other research firms also recently issued reports on TTOO. ValuEngine downgraded T2 Biosystems from a hold rating to a sell rating in a research report on Wednesday, May 1st. HC Wainwright downgraded T2 Biosystems from a buy rating to a neutral rating in a research report on Wednesday. Zacks Investment Research upgraded T2 Biosystems from a hold rating to a buy rating and set a $1.75 target price on the stock in a research report on Saturday, July 27th. Cantor Fitzgerald downgraded T2 Biosystems from an overweight rating to a neutral rating in a research report on Wednesday. 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 assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $6.19.

Shares of NASDAQ:TTOO traded up $0.03 during trading on Thursday, hitting $0.61. 1,570,302 shares of the company were exchanged, compared to its average volume of 835,790. The firm has a market cap of $63.85 million, a P/E ratio of -0.48 and a beta of 1.66. The firm’s 50 day moving average is $1.60. T2 Biosystems has a 52-week low of $0.52 and a 52-week high of $7.70. 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 (NASDAQ:TTOO) last posted its earnings results on Tuesday, July 30th. The medical equipment provider reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.03). The company had revenue of $1.80 million for the quarter, compared to analysts’ expectations of $1.95 million. T2 Biosystems had a negative return on equity of 325.79% and a negative net margin of 535.26%. The company’s revenue was down 53.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.32) EPS. On average, analysts anticipate that T2 Biosystems will post -1.18 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Cable Hill Partners LLC increased its holdings 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 worth $26,000 after purchasing an additional 5,000 shares during the period. Wiley BROS. Aintree Capital LLC bought a new position in shares of T2 Biosystems in the first quarter worth $26,000. Focused Wealth Management Inc increased its holdings 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 worth $80,000 after purchasing an additional 10,000 shares during the period. Lau Associates LLC bought a new position in shares of T2 Biosystems in the first quarter worth $33,000. Finally, Two Sigma Investments LP increased its holdings in shares of T2 Biosystems by 34.8% in the fourth quarter. Two Sigma Investments LP now owns 52,082 shares of the medical equipment provider’s stock worth $157,000 after purchasing an additional 13,435 shares during the period. 46.19% of the stock is currently owned by hedge funds and other 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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Analyst Recommendations for T2 Biosystems (NASDAQ:TTOO)

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