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

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

Accelerate Diagnostics Price Performance

Shares of AXDX opened at $1.92 on Tuesday. The company has a market cap of $45.46 million, a PE ratio of -0.87 and a beta of 0.61. The firm has a 50-day moving average of $1.76 and a 200-day moving average of $1.38. Accelerate Diagnostics has a one year low of $0.73 and a one year high of $6.25.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings results on Thursday, August 8th. The medical research company reported ($0.50) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.05. The business had revenue of $2.99 million for the quarter, compared to the consensus estimate of $3.00 million. Analysts expect 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. raised its stake in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,380,654 shares of the medical research company’s stock after purchasing an additional 26,400 shares during the period. Griffin Asset Management Inc. owned 6.26% of Accelerate Diagnostics worth $1,615,000 at the end of the most recent quarter. 17.14% of the stock is owned by 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. 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.