TTOO stock exploded 44% higher on September 11, 2019, on an analyst upgrade.
Canaccord analyst Mark Massaro maintained a Buy rating on T2 Biosystems, and raised his price target on the shares to $3.50 from $2.50, following a “positive business update call” that helped push T2 shares 60% higher and left the analyst “feeling better” about the company’s prospects.
On September 10, 2019, T2 Biosystems announced that Premier, a healthcare improvement company, as part of their technology breakthroughs program, has awarded the company a breakthrough technology contract. The agreement will allow Premier’s members, including a network of more than 4,000 U.S. hospitals and health systems, to receive special pricing and access to T2 Biosystems’ T2Bacteria Panel and T2Candida Panel – technology that can rapidly detect sepsis-causing pathogens in three to five hours instead of days – to foster fast, accurate therapy of bloodstream infections. The contract is effective as of September 1, 2019.
Disclosure: We do not hold any position in TTOO stock.