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

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

AXDX has been the topic of a number of other research reports. William Blair reissued an outperform rating on shares of Accelerate Diagnostics in a report on Tuesday, April 2nd. Craig Hallum lowered their price objective on Accelerate Diagnostics from $2.00 to $1.00 and set a hold rating on the stock in a report on Monday, April 1st.

Accelerate Diagnostics Stock Up 0.6 %

NASDAQ AXDX opened at $0.91 on Monday. Accelerate Diagnostics has a 52-week low of $0.73 and a 52-week high of $11.90. The business’s 50-day moving average price is $0.95 and its 200 day moving average price is $2.66. The firm has a market cap of $19.61 million, a P/E ratio of -0.19 and a beta of 0.53.

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

Institutional Trading of Accelerate Diagnostics

Several large investors have recently added to or reduced their stakes in AXDX. Sonora Investment Management Group LLC acquired a new position in Accelerate Diagnostics in the third quarter worth about $63,000. Tejara Capital Ltd bought a new position in Accelerate Diagnostics in the third quarter worth about $78,000. Griffin Asset Management Inc. lifted its holdings in Accelerate Diagnostics by 3.0% in the fourth quarter. Griffin Asset Management Inc. now owns 1,219,724 shares of the medical research company’s stock worth $4,781,000 after acquiring an additional 35,146 shares during the last quarter. Finally, TCI Wealth Advisors Inc. bought a new position in Accelerate Diagnostics in the third quarter worth about $337,000. 17.14% of the stock is currently owned by institutional investors and hedge funds.

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.