Accelerate Diagnostics (NASDAQ:AXDX) Raised to “Buy” at ValuEngine

Accelerate Diagnostics (NASDAQ:AXDX) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report released on Wednesday, ValuEngine reports.

A number of other analysts also recently issued reports on AXDX. Zacks Investment Research downgraded Accelerate Diagnostics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. BidaskClub upgraded Accelerate Diagnostics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. Finally, Piper Jaffray Companies dropped their price target on Accelerate Diagnostics from $22.00 to $19.00 and set a “positive” rating on the stock in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $18.67.

Shares of Accelerate Diagnostics stock traded up $1.29 on Wednesday, reaching $20.82. 468,015 shares of the company traded hands, compared to its average volume of 251,882. The company has a 50 day moving average of $18.34 and a 200 day moving average of $19.58. The company has a debt-to-equity ratio of 4.81, a current ratio of 19.99 and a quick ratio of 18.89. Accelerate Diagnostics has a 52 week low of $10.23 and a 52 week high of $24.00. The firm has a market capitalization of $1.14 billion, a PE ratio of -12.85 and a beta of 2.72.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings results on Thursday, August 8th. The medical research company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.02. Accelerate Diagnostics had a negative net margin of 1,293.91% and a negative return on equity of 170.47%. The company had revenue of $1.81 million for the quarter, compared to analysts’ expectations of $2.71 million. As a group, analysts anticipate that Accelerate Diagnostics will post -1.58 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC bought a new position in shares of Accelerate Diagnostics in the second quarter worth $27,000. SRS Capital Advisors Inc. bought a new stake in shares of Accelerate Diagnostics during the 2nd quarter valued at $114,000. SG Americas Securities LLC purchased a new stake in Accelerate Diagnostics during the 2nd quarter worth about $132,000. BNP Paribas Arbitrage SA lifted its holdings in Accelerate Diagnostics by 30,942.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,519 shares of the medical research company’s stock worth $137,000 after purchasing an additional 6,498 shares in the last quarter. Finally, Aperio Group LLC bought a new position in Accelerate Diagnostics in the 2nd quarter worth about $143,000. Hedge funds and other institutional investors own 54.52% of the company’s stock.

Accelerate Diagnostics Company Profile

Accelerate Diagnostics, Inc, an in vitro diagnostics company, provides solutions for the diagnosis of serious infections in the United States, Europe, and the Middle East. It offers Accelerate Pheno system, an in vitro diagnostic platform for the identification and antibiotic susceptibility testing of pathogens associated with serious or health care-associated infections, including gram-positive and gram-negative organisms, as well as yeast.

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