BidaskClub upgraded shares of Accelerate Diagnostics (NASDAQ:AXDX) from a sell rating to a hold rating in a research report released on Friday.
A number of other research analysts also recently issued reports on the company. Zacks Investment Research downgraded Accelerate Diagnostics from a hold rating to a sell rating in a research note on Monday, May 14th. BTIG Research reiterated a hold rating on shares of Accelerate Diagnostics in a research note on Sunday, February 18th. Finally, ValuEngine downgraded Accelerate Diagnostics from a hold rating to a sell rating in a research note on Friday, February 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $33.00.
Shares of Accelerate Diagnostics opened at $21.60 on Friday, Marketbeat reports. The company has a quick ratio of 26.44, a current ratio of 27.80 and a debt-to-equity ratio of 0.65. Accelerate Diagnostics has a 12-month low of $16.75 and a 12-month high of $30.45.
Accelerate Diagnostics (NASDAQ:AXDX) last announced its quarterly earnings data on Wednesday, May 9th. The medical research company reported ($0.27) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.32) by $0.05. The company had revenue of $0.80 million during the quarter, compared to the consensus estimate of $2.64 million. Accelerate Diagnostics had a negative return on equity of 51.23% and a negative net margin of 1,568.29%. sell-side analysts forecast that Accelerate Diagnostics will post -1.38 EPS for the current year.
In other Accelerate Diagnostics news, Director Jack W. Schuler purchased 10,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were bought at an average cost of $25.21 per share, with a total value of $252,100.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jack W. Schuler purchased 15,000 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was acquired at an average cost of $25.15 per share, for a total transaction of $377,250.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 210,100 shares of company stock valued at $4,361,900. 49.30% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lee Financial Co purchased a new position in Accelerate Diagnostics in the 1st quarter worth approximately $128,000. Cpwm LLC purchased a new position in Accelerate Diagnostics in the 4th quarter worth approximately $202,000. UBS Asset Management Americas Inc. purchased a new position in Accelerate Diagnostics in the 4th quarter worth approximately $233,000. Cowen Inc. purchased a new position in Accelerate Diagnostics in the 1st quarter worth approximately $267,000. Finally, Teacher Retirement System of Texas purchased a new position in Accelerate Diagnostics in the 4th quarter worth approximately $292,000. 47.77% of the stock is currently owned by institutional investors.
About Accelerate Diagnostics
Accelerate Diagnostics, Inc, an in vitro diagnostics company, provides solutions for the diagnosis of serious infections in the United States. It 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, as well as yeast.
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