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Fly News Breaks for May 24, 2019
TTOO
May 24, 2019 | 07:42 EDT
Cantor Fitzgerald analyst Jordan Abrams sees no fundamental reason for the weakness yesterday in shares of T2 Biosystems. The analyst continues to have "high conviction" that T2 will see a "significant" testing ramp in the second half of 2019, following instrument placement traction in the first half of the year. Abrams says his diligence with clinicians, coupled with a "growing body" of clinical evidence, supports adoption acceleration over the next two years. Shares of T2 are "particularly attractive" following yesterday's 19% selloff, Abrams tells investors in a research note. He reiterates an Overweight rating on T2 Biosystems with a $10 price target.