Accelerate Diagnostics Inc (NASDAQ:AXDX)’s stock price was up 6.6% during trading on Wednesday . The company traded as high as $21.20 and last traded at $20.82, approximately 468,600 shares were traded during trading. An increase of 86% from the average daily volume of 251,882 shares. The stock had previously closed at $19.53.
Several brokerages have recently commented on AXDX. Zacks Investment Research downgraded Accelerate Diagnostics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Piper Jaffray Companies cut their target price on Accelerate Diagnostics from $22.00 to $19.00 and set a “positive” rating for the company in a research report on Friday, August 9th. BidaskClub upgraded Accelerate Diagnostics from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, ValuEngine raised Accelerate Diagnostics from a “hold” rating to a “buy” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $18.67.
The firm’s fifty day moving average price is $18.34 and its 200 day moving average price is $19.58. The company has a quick ratio of 18.89, a current ratio of 19.99 and a debt-to-equity ratio of 4.81. The stock has a market cap of $1.14 billion, a PE ratio of -12.85 and a beta of 2.72.
Accelerate Diagnostics (NASDAQ:AXDX) last issued its earnings results on Thursday, August 8th. The medical research company reported ($0.38) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.02. The firm had revenue of $1.81 million during the quarter, compared to analyst estimates of $2.71 million. Accelerate Diagnostics had a negative net margin of 1,293.91% and a negative return on equity of 170.47%. As a group, analysts anticipate that Accelerate Diagnostics Inc will post -1.58 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in AXDX. Bank of America Corp DE boosted its holdings in shares of Accelerate Diagnostics by 15.9% during the 4th quarter. Bank of America Corp DE now owns 28,477 shares of the medical research company’s stock valued at $327,000 after purchasing an additional 3,907 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Accelerate Diagnostics by 30,942.9% in the first quarter. BNP Paribas Arbitrage SA now owns 6,519 shares of the medical research company’s stock worth $137,000 after buying an additional 6,498 shares in the last quarter. Griffin Asset Management Inc. lifted its position in shares of Accelerate Diagnostics by 11.1% in the first quarter. Griffin Asset Management Inc. now owns 484,871 shares of the medical research company’s stock worth $10,192,000 after buying an additional 48,352 shares in the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of Accelerate Diagnostics in the first quarter worth about $5,728,000. Finally, Marshall Wace LLP bought a new position in Accelerate Diagnostics during the first quarter valued at approximately $318,000. Institutional investors and hedge funds own 54.52% of the company’s stock.
About Accelerate Diagnostics (NASDAQ:AXDX)
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. 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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