Accelerate Diagnostics (NASDAQ:AXDX) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research note published on Thursday morning. The firm issued a hold rating on the medical research company’s stock.

Accelerate Diagnostics Trading Up 4.8 %

Shares of AXDX stock opened at $1.54 on Thursday. Accelerate Diagnostics has a 12 month low of $0.73 and a 12 month high of $7.00. The stock has a market cap of $33.96 million, a P/E ratio of -0.38 and a beta of 0.62. The company has a 50 day simple moving average of $1.53 and a two-hundred day simple moving average of $1.22.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings data on Thursday, August 8th. The medical research company reported ($0.50) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.05. The company had revenue of $2.99 million during the quarter, compared to analysts’ expectations of $3.00 million. As a group, equities analysts forecast that Accelerate Diagnostics will post -2.14 earnings per share for the current year.

Institutional Investors Weigh In On Accelerate Diagnostics

An institutional investor recently raised its position in Accelerate Diagnostics stock. Griffin Asset Management Inc. grew its holdings in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 11.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,354,254 shares of the medical research company’s stock after acquiring an additional 134,530 shares during the period. Griffin Asset Management Inc. owned about 6.25% of Accelerate Diagnostics worth $1,341,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds 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.