Equities analysts forecast that T2 Biosystems Inc (NASDAQ:TTOO) will announce earnings of ($0.33) per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for T2 Biosystems’ earnings. The lowest EPS estimate is ($0.35) and the highest is ($0.31). T2 Biosystems reported earnings of ($0.45) per share in the same quarter last year, which indicates a positive year over year growth rate of 26.7%. The company is scheduled to report its next quarterly earnings report on Thursday, November 1st.
According to Zacks, analysts expect that T2 Biosystems will report full-year earnings of ($1.32) per share for the current fiscal year, with EPS estimates ranging from ($1.38) to ($1.28). For the next year, analysts anticipate that the company will post earnings of ($1.09) per share, with EPS estimates ranging from ($1.24) to ($1.00). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow T2 Biosystems.
T2 Biosystems (NASDAQ:TTOO) last issued its earnings results on Thursday, August 2nd. The medical equipment provider reported ($0.32) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.32). T2 Biosystems had a negative return on equity of 556.22% and a negative net margin of 637.62%. The business had revenue of $3.90 million during the quarter, compared to analysts’ expectations of $2.97 million. During the same quarter in the previous year, the business earned ($0.50) EPS. The company’s revenue for the quarter was up 307.9% on a year-over-year basis.
A number of brokerages have recently issued reports on TTOO. Leerink Swann upgraded T2 Biosystems from a “market perform” rating to an “outperform” rating in a report on Friday, June 1st. BidaskClub lowered T2 Biosystems from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of T2 Biosystems in a research report on Thursday, June 14th. Zacks Investment Research raised T2 Biosystems from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. Finally, Janney Montgomery Scott raised T2 Biosystems from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $8.05.
Shares of NASDAQ:TTOO traded down $0.19 during trading on Monday, reaching $6.26. 520,200 shares of the stock were exchanged, compared to its average volume of 565,576. The company has a current ratio of 7.31, a quick ratio of 7.10 and a debt-to-equity ratio of 1.22. T2 Biosystems has a 12-month low of $3.60 and a 12-month high of $9.98.
In other T2 Biosystems news, Director David B. Elsbree bought 4,225 shares of the business’s stock in a transaction on Friday, June 1st. The shares were bought at an average cost of $7.65 per share, with a total value of $32,321.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Stanley Lapidus sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 5th. The shares were sold at an average price of $8.87, for a total value of $53,220.00. The disclosure for this sale can be found here. Corporate insiders own 31.50% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Raymond James & Associates bought a new position in T2 Biosystems during the 2nd quarter worth $100,000. Staley Capital Advisers Inc. bought a new position in T2 Biosystems during the 2nd quarter worth $116,000. Zacks Investment Management bought a new position in T2 Biosystems during the 2nd quarter worth $124,000. Thompson Davis & CO. Inc. bought a new position in T2 Biosystems during the 2nd quarter worth $127,000. Finally, SeaCrest Wealth Management LLC bought a new position in T2 Biosystems during the 2nd quarter worth $132,000. 46.31% of the stock is currently owned by institutional investors and hedge funds.
About T2 Biosystems
T2 Biosystems, Inc, an in vitro diagnostics company, develops diagnostic products and product candidates in the United States. 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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