Accelerate Diagnostics (NASDAQ:AXDX) Earns Hold Rating from Analysts at StockNews.com

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

Other equities analysts have also issued reports about the company. William Blair reaffirmed an outperform rating on shares of Accelerate Diagnostics in a research report on Tuesday, April 2nd. Craig Hallum lowered their target price on Accelerate Diagnostics from $2.00 to $1.00 and set a hold rating on the stock in a research report on Monday, April 1st.

Accelerate Diagnostics Stock Performance

Shares of AXDX opened at $0.89 on Friday. 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 $0.99 and its two-hundred day moving average price is $3.07. The firm has a market cap of $19.22 million, a PE ratio of -0.18 and a beta of 0.52.

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

Institutional Investors Weigh In On Accelerate Diagnostics

Several institutional investors have recently bought and sold shares of the stock. Griffin Asset Management Inc. grew its holdings in Accelerate Diagnostics by 11.0% during 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 buying an additional 134,530 shares in the last quarter. Tejara Capital Ltd bought a new position in Accelerate Diagnostics in the 3rd quarter valued at $78,000. Sonora Investment Management Group LLC bought a new position in Accelerate Diagnostics in the 3rd quarter valued at $63,000. Finally, TCI Wealth Advisors Inc. bought a new position in Accelerate Diagnostics in the 3rd quarter valued at $337,000. Institutional investors own 17.14% of the company’s stock.

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.