T2 Biosystems Inc (NASDAQ:TTOO) Expected to Announce Quarterly Sales of $2.01 Million

Equities research analysts forecast that T2 Biosystems Inc (NASDAQ:TTOO) will report sales of $2.01 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for T2 Biosystems’ earnings, with the highest sales estimate coming in at $2.10 million and the lowest estimate coming in at $1.95 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 scheduled 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 $19.34 million for the current financial year, with estimates ranging from $17.80 million to $21.00 million. For the next year, analysts forecast that the firm will report sales of $42.09 million, with estimates ranging from $35.38 million to $50.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover T2 Biosystems.

T2 Biosystems (NASDAQ:TTOO) last released its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.34) earnings per share (EPS) for the quarter, missing the 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 quarter in the previous year, the business posted ($0.36) EPS. The firm’s revenue for the quarter was down 21.7% compared to the same quarter last year.

Several research firms have recently weighed in on TTOO. HC Wainwright set a $10.00 price objective on shares of T2 Biosystems and gave the company a “buy” rating in a research note on Friday, June 7th. Zacks Investment Research upgraded shares of SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Friday, July 5th. Cantor Fitzgerald set a $10.00 price objective on shares of T2 Biosystems and gave the company a “buy” rating in a research note on Friday, May 24th. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, Alliance Global Partners began coverage on shares of T2 Biosystems in a research note on Thursday, May 16th. They issued a “buy” rating and a $5.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $7.63.

A number of hedge funds and other institutional investors have recently bought and sold shares of TTOO. Wiley BROS. Aintree Capital LLC acquired a new stake in T2 Biosystems in the 1st quarter valued at $26,000. Cable Hill Partners LLC grew its position in 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 valued at $26,000 after purchasing an additional 5,000 shares during the period. Lau Associates LLC acquired a new stake in T2 Biosystems in the 1st quarter valued at $33,000. Janney Montgomery Scott LLC acquired a new stake in T2 Biosystems in the 4th quarter valued at $37,000. Finally, Bell & Brown Wealth Advisors LLC acquired a new stake in T2 Biosystems in the 4th quarter valued at $38,000. 46.16% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:TTOO traded down $0.03 during mid-day trading on Thursday, hitting $1.51. The company had a trading volume of 36,570 shares, compared to its average volume of 758,872. The company has a fifty day moving average of $1.80. The firm has a market capitalization of $69.17 million, a P/E ratio of -1.23 and a beta of 1.67. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.81 and a quick ratio of 0.76. T2 Biosystems has a one year low of $1.35 and a one year high of $7.74.

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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