T2 Biosystems, Inc. ( TTOO Quick Quote TTOO - Free Report) is scheduled to release first-quarter 2020 results on May 5, after the opening bell. The company reported a negative earnings surprise of 11.1% in the last reported quarter.It has a trailing four-quarter negative earnings surprise of 8.5%, on average. Q1 Estimates The Zacks Consensus Estimate for first-quarter 2020 earnings is pegged at 28 cents per share, indicating an improvement of 17.7% from the year-ago reported figure. Factors to Note T2 Biosystems’ first-quarter produce revenues are likely to reflect growing test panel instrument sales. This, in turn, might have contributed to the company’s performance in the to-be-reported quarter. Per the preliminary announcement, first-quarter 2020 total revenues are expected to range between $2.2 million and $2.6 million. Product revenues are estimated in the range of $0.9-$1.1 million. Further, research and grant contribution revenues are anticipated in the band of $1.3-$1.5 million.
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 assayfrom 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 first-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, is likely to reflect on the company’s first-quarter performance. 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 a few medical stocks worth considering as they have the right combination of elements to post an earnings beat this quarter. Luminex Corporation ( LMNX Quick Quote LMNX - Free Report) has an Earnings ESP of +14.28% and a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here. Haemonetics Corporation ( HAE Quick Quote HAE - Free Report) has an Earnings ESP of +2.76% and a Zacks Rank of 3. Aurora Cannabis Inc. ( ACB Quick Quote ACB - Free Report) has an Earnings ESP of +9.09% and a Zacks Rank of 3. Today's Best Stocks from Zacks
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