Alliance Global Partners analyst Ben Haynor lowered the firm’s price target on T2 Biosystems to $5.35 from a reverse-split-adjusted $18 and keeps a Neutral rating on the shares. The firm reduced estimates on the company’s Q3 preliminary results, updated fiscal 2203 guidance, and the end of the BARDA contract. Despite the Q3 results below expectations, reduction in product revenue guidance, reverse split, and BARDA contract ending, “we think things may be looking up for T2,” says the firm.
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