H.C. Wainwright Believes T2 Biosystems (NASDAQ: TTOO) Still Has Room to Grow

By Ryan Adsit

In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on T2 Biosystems (NASDAQ: TTOO), with a price target of $14. The company’s shares closed yesterday at $9.08, close to its 52-week high of $9.84.

According to TipRanks.com, Selvaraju is a 3-star analyst with an average return of 1.8% and a 40.6% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.

Currently, the analyst consensus on T2 Biosystems is Strong Buy and the average price target is $13, representing a 43.2% upside.

In a report issued on June 1, Leerink Partners also upgraded the stock to Buy with a $12 price target.

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The company has a one-year high of $9.84 and a one-year low of $2.50. Currently, T2 Biosystems has an average volume of 581.9K.

Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is negative on the stock.

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T2 Biosystems, Inc. engages in the development of proprietary technology platform. It offers the T2 Magnetic Resonance technology which enables rapid detection of pathogens, biomarkers and other abnormalities in a variety of unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum and urine, and can detect cellular targets at limits of detection including one colony forming unit per milliliter. The company was founded by Michael J. Cima, Robert S. Langer Jr., Tyler Jacks, Lee Josephson, W. David Lee, and Ralph Weissleder on April 27, 2006 and is headquartered in Lexington, MA.