Goldman Sachs Starts T2 Biosystems, Inc (TTOO) at Neutral

Goldman Sachs initiated coverage on T2 Biosystems, Inc (NASDAQ: TTOO) with a Neutral rating and a price target of $25.00.

Analyst Isaac Ro said, "We initiate coverage of T2 Biosystems (TTOO) with a Neutral rating and 13% upside to our six-month price target of $25 based on 4x our FY2017 EV/Sales estimate and our M&A value. Our investment thesis is based on: (1) a $3bn TAM with hyper-growth potential as the market for sepsisbased diagnostics is significant and ripe for innovation, (2) rapid uptake of T2MR post FDA clearance expected in 2H14, resulting in significant operating leverage as 30% of high-risk cases occur in the top 10% of US hospitals; (3) however, we believe current valuation already reflects successful commercialization and risk/reward is balanced."

For an analyst ratings summary and ratings history on T2 Biosystems, Inc click here. For more ratings news on T2 Biosystems, Inc click here.

Shares of T2 Biosystems, Inc closed at $23.21 yesterday.

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