Accelerate Diagnostics (NASDAQ:AXDX) Lowered to “Sell” at BidaskClub

Accelerate Diagnostics (NASDAQ:AXDX) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday, BidAskClub reports.

Other research analysts have also issued reports about the company. Piper Jaffray Companies decreased their price objective on Accelerate Diagnostics from $22.00 to $19.00 and set a “positive” rating on the stock in a report on Friday, August 9th. Zacks Investment Research lowered Accelerate Diagnostics from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. lowered Accelerate Diagnostics from a “neutral” rating to an “underweight” rating and set a $16.00 price objective on the stock. in a report on Friday, September 27th. Finally, ValuEngine lowered Accelerate Diagnostics from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Accelerate Diagnostics currently has a consensus rating of “Hold” and an average target price of $18.67.

AXDX traded up $0.21 during trading hours on Friday, reaching $17.50. The company’s stock had a trading volume of 2,705 shares, compared to its average volume of 234,139. Accelerate Diagnostics has a 52 week low of $10.23 and a 52 week high of $24.00. The company’s 50-day moving average is $19.16 and its 200-day moving average is $19.48. The company has a debt-to-equity ratio of 4.81, a quick ratio of 18.89 and a current ratio of 19.99. The firm has a market cap of $954.65 million, a PE ratio of -10.81 and a beta of 2.75.

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

Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC acquired a new stake in shares of Accelerate Diagnostics during the 2nd quarter worth $27,000. SRS Capital Advisors Inc. acquired a new stake in Accelerate Diagnostics in the second quarter valued at about $114,000. SG Americas Securities LLC acquired a new stake in Accelerate Diagnostics in the second quarter valued at about $132,000. Aperio Group LLC acquired a new stake in Accelerate Diagnostics in the second quarter valued at about $143,000. Finally, M&T Bank Corp acquired a new stake in Accelerate Diagnostics in the second quarter valued at about $206,000. 54.02% of the stock is currently owned by hedge funds and other institutional investors.

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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