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

Posted by Doug Madison on Oct 17th, 2024

StockNews.com started coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX – Free Report) in a research note published on Sunday morning. The brokerage issued a hold rating on the medical research company’s stock.

Accelerate Diagnostics Stock Performance

AXDX opened at $1.90 on Friday. The business’s 50-day simple moving average is $1.73 and its 200-day simple moving average is $1.32. The company has a market cap of $41.90 million, a P/E ratio of -0.47 and a beta of 0.61. Accelerate Diagnostics has a one year low of $0.73 and a one year high of $6.39.

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

Hedge Funds Weigh In On Accelerate Diagnostics

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. lifted its stake in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX – Free Report) by 11.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,354,254 shares of the medical research company’s stock after purchasing an additional 134,530 shares during the quarter. Griffin Asset Management Inc. owned about 6.25% of Accelerate Diagnostics worth $1,341,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 17.14% of the company’s stock.

Accelerate Diagnostics Company Profile

(Get Free Report)

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.