Leerink Partners Resumes T2 Biosystems, Inc (TTOO) at Market Perform
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Leerink Partners resumes coverage on T2 Biosystems, Inc (NASDAQ: TTOO) with a Market Perform rating and a price target of $5.00.
Analyst Puneet Souda commented, "While we view TTOO’s proprietary T2MR pathogen detection technology and large market opportunity favorably, we are inclined to stay on the sidelines until TTOO delivers consistently on instrument placements and strings together a series of solid quarters in line with Street expectations. And we believe the shares will work again if TTOO meets or exceeds the updated timeline and expectations laid out for the T2Bacteria pivotal clinical trial in 1Q17 and approval in 2H17. Recall that TTOO was initially planning for trial completion in 3Q16 and approval in early 2017."
Shares of T2 Biosystems, Inc closed at $6.31 yesterday.
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