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Fly News Breaks for June 1, 2018
TTOO
Jun 1, 2018 | 07:00 EDT
Leerink analyst Puneet Souda upgraded T2 Biosystems to Outperform from Market Perform and raised his price target for the shares to $12 from $5. This week's T2bacteria FDA clearance expands the company's market opportunity "dramatically" from $1.4B to over $3B, Souda tells investors in a research note. He believes T2 is "highly underpenetrated" in its core markets, but feels it can now penetrate the broader $1.5B-$2.0B bacterial sepsis market with an immediate entry into the hospital emergency departments, which the analyst values at $300M
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