“Outlook Remains The Same As the company preannounced Q4 revenue and provided FY18 revenue expectations on January 10th , the company’s formal earnings call was fairly straightforward without surprises. The messaging was largely consistent with what we learned from the company’s JPM conference presentation though we now may expect an update on progress with the FDA on the LRTI test as early as the Q1 call. Overall, we remain very positive on the technology and the total opportunity but feel the company needs to consistently hit estimates through the course of the year for the Street to regain comfort with the model. We maintain our Neutral rating. Modestly tweaking our estimates for gross margin. Our revenue estimates are unchanged but we have increased our gross margin estimates to reflect better trends in Q4. Our full year FY18 revenue estimate is $25M and we assume roughly 2/3 of revenue will be recognized in the 2H. For Q1, we model a slight uptick sequentially from Q4 revenue of $2.12M to $3.2M; of note, this estimate also seems to be lower than other estimates on the Street of $4-5M. Given the timing of hospital purchasing, we prefer to have a conservative bias in the start of the year. Valuation: Shares are Neutral rated based on our DCF analysis. Risks follow.”,” the firm’s analyst commented.
Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research raised Accelerate Diagnostics from a sell rating to a hold rating in a report on Monday, January 8th. ValuEngine raised Accelerate Diagnostics from a sell rating to a hold rating in a report on Friday, February 2nd. Finally, BidaskClub cut Accelerate Diagnostics from a buy rating to a hold rating in a report on Tuesday, February 13th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $33.00.
Shares of Accelerate Diagnostics (AXDX) opened at $24.55 on Friday. Accelerate Diagnostics has a twelve month low of $16.75 and a twelve month high of $30.45. The company has a market capitalization of $1,380.00, a P/E ratio of -21.16 and a beta of 2.19.
Accelerate Diagnostics (NASDAQ:AXDX) last announced its earnings results on Thursday, February 15th. The medical research company reported ($0.27) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.32) by $0.05. Accelerate Diagnostics had a negative return on equity of 55.26% and a negative net margin of 1,520.99%. The firm had revenue of $2.10 million for the quarter. sell-side analysts anticipate that Accelerate Diagnostics will post -1.25 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in AXDX. Cpwm LLC acquired a new position in Accelerate Diagnostics in the fourth quarter worth approximately $202,000. UBS Asset Management Americas Inc. acquired a new position in Accelerate Diagnostics in the fourth quarter worth approximately $233,000. Teacher Retirement System of Texas acquired a new position in Accelerate Diagnostics in the fourth quarter worth approximately $292,000. MetLife Investment Advisors LLC acquired a new position in Accelerate Diagnostics in the fourth quarter worth approximately $297,000. Finally, Intl Fcstone Inc. acquired a new position in Accelerate Diagnostics in the second quarter worth approximately $322,000. 47.21% of the stock is currently owned by hedge funds and other institutional investors.
About Accelerate Diagnostics
Accelerate Diagnostics, Inc is an in vitro diagnostics company engaged in providing solutions that develop patient outcomes through the diagnosis of serious infections. The Company’s in vitro diagnostic platform, the Accelerate Pheno system utilizes genotypic technology to identify (ID), infectious pathogens and phenotypic technology to conduct antibiotic susceptibility testing (AST), which determines whether live bacterial or fungal cells are resistant or susceptible to a particular antibiotic.
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