T2 Biosystems (NASDAQ:TTOO) Issues Quarterly Earnings Results, Beats Expectations By $0.31 EPS

T2 Biosystems (NASDAQ:TTOO) announced its earnings results on Monday. The medical equipment provider reported ($0.66) EPS for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.31, Yahoo Finance reports. The business had revenue of $1.95 million for the quarter. T2 Biosystems updated its FY 2024 guidance to EPS.

T2 Biosystems Stock Down 0.2 %

TTOO stock traded down $0.01 during trading on Wednesday, reaching $4.88. The company had a trading volume of 96,001 shares, compared to its average volume of 271,985. T2 Biosystems has a twelve month low of $2.60 and a twelve month high of $70.00. The firm has a 50-day simple moving average of $5.11 and a 200-day simple moving average of $4.47.

Analyst Ratings Changes

A number of research firms recently weighed in on TTOO. Canaccord Genuity Group raised their target price on shares of T2 Biosystems from $3.00 to $5.00 and gave the company a “hold” rating in a report on Tuesday. StockNews.com raised shares of T2 Biosystems to a “sell” rating in a research note on Tuesday.

T2 Biosystems Company Profile

T2 Biosystems, Inc, an in vitro diagnostics company, develops and sells diagnostic products and product candidates in the United States and internationally. Its technology enables detection of pathogens, biomarkers, and other abnormalities in various unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum, cerebral spinal fluid, and urine.