Accelerate Diagnostics (NASDAQ:AXDX) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research report sent to investors on Sunday. The firm issued a hold rating on the medical research company’s stock.

A number of other analysts have also weighed in on the company. Craig Hallum lowered their target price on Accelerate Diagnostics from $2.00 to $1.00 and set a hold rating for the company in a research note on Monday, April 1st. William Blair reiterated an outperform rating on shares of Accelerate Diagnostics in a research report on Tuesday, April 2nd.

Accelerate Diagnostics Stock Performance

Shares of NASDAQ:AXDX opened at $0.94 on Friday. Accelerate Diagnostics has a twelve month low of $0.73 and a twelve month high of $11.90. The firm has a market cap of $20.26 million, a PE ratio of -0.19 and a beta of 0.52. The business has a fifty day moving average of $0.95 and a 200-day moving average of $2.85.

Accelerate Diagnostics (NASDAQ:AXDX) last announced its earnings results on Thursday, March 28th. The medical research company reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.27). The firm had revenue of $3.03 million during the quarter, compared to the consensus estimate of $3.80 million. On average, analysts anticipate that Accelerate Diagnostics will post -2.27 EPS for the current fiscal year.

Institutional Trading of Accelerate Diagnostics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Griffin Asset Management Inc. increased its position in Accelerate Diagnostics by 11.0% in the first quarter. Griffin Asset Management Inc. now owns 1,354,254 shares of the medical research company’s stock worth $1,341,000 after purchasing an additional 134,530 shares during the period. TCI Wealth Advisors Inc. bought a new position in Accelerate Diagnostics during the third quarter worth about $337,000. Tejara Capital Ltd bought a new position in Accelerate Diagnostics during the third quarter worth about $78,000. Finally, Sonora Investment Management Group LLC bought a new position in Accelerate Diagnostics during the third quarter worth about $63,000. 17.14% of the stock is currently owned by institutional investors and hedge funds.

About Accelerate Diagnostics

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.