Equities research analysts predict that T2 Biosystems Inc (NASDAQ:TTOO) will announce earnings per share (EPS) of ($0.27) for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for T2 Biosystems’ earnings, with estimates ranging from ($0.30) to ($0.25). T2 Biosystems posted earnings of ($0.35) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 22.9%. The firm is expected to report its next earnings report on Thursday, March 5th.
On average, analysts expect that T2 Biosystems will report full year earnings of ($1.27) per share for the current year, with EPS estimates ranging from ($1.31) to ($1.25). For the next year, analysts anticipate that the company will report earnings of ($0.82) per share, with EPS estimates ranging from ($0.94) to ($0.73). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow T2 Biosystems.
Several equities research analysts have recently issued reports on TTOO shares. Canaccord Genuity restated a “buy” rating and issued a $3.00 price objective on shares of T2 Biosystems in a research note on Wednesday, November 13th. HC Wainwright restated a “hold” rating on shares of T2 Biosystems in a research note on Thursday, November 21st. Svb Leerink raised their price objective on shares of T2 Biosystems from $3.00 to $5.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Leerink Swann set a $5.00 price objective on shares of T2 Biosystems and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, Janney Montgomery Scott downgraded shares of T2 Biosystems from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. T2 Biosystems has a consensus rating of “Hold” and an average price target of $5.14.
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in T2 Biosystems by 20.3% in the second quarter. Vanguard Group Inc. now owns 1,390,197 shares of the medical equipment provider’s stock worth $2,336,000 after purchasing an additional 234,369 shares during the period. Ardsley Advisory Partners LP lifted its position in T2 Biosystems by 6.1% in the second quarter. Ardsley Advisory Partners LP now owns 875,000 shares of the medical equipment provider’s stock worth $1,470,000 after purchasing an additional 50,000 shares during the period. JPMorgan Chase & Co. lifted its position in T2 Biosystems by 7,546.7% in the second quarter. JPMorgan Chase & Co. now owns 732,400 shares of the medical equipment provider’s stock worth $1,150,000 after purchasing an additional 722,822 shares during the period. Essex Investment Management Co. LLC bought a new position in T2 Biosystems in the third quarter worth $830,000. Finally, Granahan Investment Management Inc. MA bought a new position in T2 Biosystems in the third quarter worth $544,000. 23.60% 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.
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