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T2 Biosystems (TTOO) to Post Q2 Earnings: What's in Store?
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T2 Biosystems, Inc. (TTOO - Free Report) is expected to release second-quarter 2020 results in the early weeks of August. The company reported earnings surprise of 21.4% in the last reported quarter.
Q2 Estimates
The Zacks Consensus Estimate for second-quarter 2020 bottom line is pegged at a loss of 18 cents per share.
Factors to Note
Growing test panel instrument sales are likely to get reflected in T2 Biosystems’ second-quarter produce revenues. This, in turn, might have contributed to the company’s performance in the to-be-reported quarter.
Per the preliminary announcement, second-quarter 2020 total revenues are expected between $2.4 million and $2.6 million. Product revenues are estimated in the range of $1-$1.1 million.
Further, research and grant contribution revenues are anticipated in the band of $1.4-$1.5 million.
In June, the company announced the U.S. launch of the T2SARS-CoV-2 Panel – the new molecular diagnostic test for the identification of SARS-CoV-2 (the virus causing COVID-19).
In March, T2 Biosystems — the only company with solutions to detect sepsis causing pathogens — received a multiyear Innovative Technology contract from Vizient, Inc.
Further, in the same month, the company announced a worldwide licensing agreement of COVID-19, novel coronavirus assay from Hackensack Meridian Health’s Center for Discovery and Innovation. The assay will be adapted to run on T2 Biosystems’ FDA-cleared T2Dx Instrument.
These developments are likely to have positively impacted the company’s second-quarter performance.
In 2020, the company has been focused on advancing programs funded by the $69 million milestone-based government contract awarded in September 2019. This includes the next generation instrument and expanded panel, and a novel biothreat panel. This, in turn, may get reflected in the company’s second-quarter results.
Earnings Whispers
Per our proven model, a combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here as you will see below.
Earnings ESP: T2 Biosystems has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company carries a Zacks Rank #3.
Stocks Worth a Look
Here are some medical stocks worth considering as these have the right combination of elements to post an earnings beat this quarter.
Exact Sciences Corporation (EXAS - Free Report) has an Earnings ESP of +6.69% and a Zacks Rank of 2.
Hologic, Inc. (HOLX - Free Report) has an Earnings ESP of +14.56% and a Zacks Rank of 3.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
Image: Bigstock
T2 Biosystems (TTOO) to Post Q2 Earnings: What's in Store?
T2 Biosystems, Inc. (TTOO - Free Report) is expected to release second-quarter 2020 results in the early weeks of August. The company reported earnings surprise of 21.4% in the last reported quarter.
Q2 Estimates
The Zacks Consensus Estimate for second-quarter 2020 bottom line is pegged at a loss of 18 cents per share.
Factors to Note
Growing test panel instrument sales are likely to get reflected in T2 Biosystems’ second-quarter produce revenues. This, in turn, might have contributed to the company’s performance in the to-be-reported quarter.
Per the preliminary announcement, second-quarter 2020 total revenues are expected between $2.4 million and $2.6 million. Product revenues are estimated in the range of $1-$1.1 million.
Further, research and grant contribution revenues are anticipated in the band of $1.4-$1.5 million.
T2 Biosystems, Inc. Price and EPS Surprise
T2 Biosystems, Inc. price-eps-surprise | T2 Biosystems, Inc. Quote
In June, the company announced the U.S. launch of the T2SARS-CoV-2 Panel – the new molecular diagnostic test for the identification of SARS-CoV-2 (the virus causing COVID-19).
In March, T2 Biosystems — the only company with solutions to detect sepsis causing pathogens — received a multiyear Innovative Technology contract from Vizient, Inc.
Further, in the same month, the company announced a worldwide licensing agreement of COVID-19, novel coronavirus assay from Hackensack Meridian Health’s Center for Discovery and Innovation. The assay will be adapted to run on T2 Biosystems’ FDA-cleared T2Dx Instrument.
These developments are likely to have positively impacted the company’s second-quarter performance.
In 2020, the company has been focused on advancing programs funded by the $69 million milestone-based government contract awarded in September 2019. This includes the next generation instrument and expanded panel, and a novel biothreat panel. This, in turn, may get reflected in the company’s second-quarter results.
Earnings Whispers
Per our proven model, a combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here as you will see below.
Earnings ESP: T2 Biosystems has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company carries a Zacks Rank #3.
Stocks Worth a Look
Here are some medical stocks worth considering as these have the right combination of elements to post an earnings beat this quarter.
Integra LifeSciences Holdings Corporation (IART - Free Report) has an Earnings ESP of +20.69% and a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Exact Sciences Corporation (EXAS - Free Report) has an Earnings ESP of +6.69% and a Zacks Rank of 2.
Hologic, Inc. (HOLX - Free Report) has an Earnings ESP of +14.56% and a Zacks Rank of 3.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>