Accelerate Diagnostics (NASDAQ:AXDX) Now Covered by StockNews.com

StockNews.com started coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a report issued on Sunday. The brokerage set a “hold” rating on the medical research company’s stock.

Other equities analysts also recently issued research reports about the company. Craig Hallum dropped their target price on Accelerate Diagnostics from $2.00 to $1.00 and set a “hold” rating on the stock in a report on Monday, April 1st. William Blair reissued an “outperform” rating on shares of Accelerate Diagnostics in a research note on Tuesday, April 2nd.

Accelerate Diagnostics Price Performance

Shares of AXDX opened at $1.26 on Friday. The company has a market capitalization of $27.78 million, a price-to-earnings ratio of -0.31 and a beta of 0.65. Accelerate Diagnostics has a fifty-two week low of $0.73 and a fifty-two week high of $8.72. The business’s 50-day moving average is $1.08 and its 200-day moving average is $1.69.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its earnings results on Wednesday, May 8th. The medical research company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.16). The firm had revenue of $2.92 million during the quarter, compared to the consensus estimate of $3.00 million. Equities research analysts expect that Accelerate Diagnostics will post -2.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Accelerate Diagnostics

An institutional investor recently raised its position in Accelerate Diagnostics stock. Griffin Asset Management Inc. boosted its stake in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,219,724 shares of the medical research company’s stock after purchasing an additional 35,146 shares during the quarter. Griffin Asset Management Inc. owned about 8.38% of Accelerate Diagnostics worth $4,781,000 at the end of the most recent quarter. Institutional investors own 17.14% 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. The company 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.