T2 Biosystems price target lowered to $1.50 from $2.20 at Alliance Global

Alliance Global Partners analyst Ben Haynor lowered the firm’s price target on T2 Biosystems to $1.50 from $2.20 and keeps a Neutral rating on the shares. The target drop reflects a significantly higher share count in the near future and lower 2023 product revenue expectations, the analyst tells investors in a research note. The firm remains "intrigued" by T2’s technology and upcoming product development catalysts, but remains on the sidelines "until the company solidifies its balance sheet."