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

T2 Biosystems (NASDAQ:TTOO) issued its quarterly 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 firm had revenue of $1.95 million for the quarter. T2 Biosystems updated its FY 2024 guidance to EPS.

T2 Biosystems Trading Down 0.2 %

Shares of TTOO traded down $0.01 during midday trading on Wednesday, hitting $4.88. 96,001 shares of the company traded hands, compared to its average volume of 271,985. The stock has a 50-day moving average of $5.11 and a 200-day moving average of $4.47. T2 Biosystems has a one year low of $2.60 and a one year high of $70.00.

Analysts Set New Price Targets

TTOO has been the subject of several research analyst reports. Canaccord Genuity Group lifted their price target on shares of T2 Biosystems from $3.00 to $5.00 and gave the company a “hold” rating in a research note on Tuesday. StockNews.com upgraded T2 Biosystems to a “sell” rating in a report 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.