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

T2 Biosystems (NASDAQ:TTOO) announced its quarterly earnings data on Monday. The medical equipment provider reported ($0.66) EPS for the quarter, topping 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 Price Performance

Shares of NASDAQ:TTOO traded up $0.10 during midday trading on Wednesday, reaching $4.99. 58,219 shares of the company’s stock were exchanged, compared to its average volume of 271,725. T2 Biosystems has a 12 month low of $2.60 and a 12 month high of $70.00. The company’s 50 day simple moving average is $5.11 and its two-hundred day simple moving average is $4.47.

Analysts Set New Price Targets

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

About T2 Biosystems

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.