Accelerate Diagnostics (NASDAQ:AXDX) Research Coverage Started at StockNews.com

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

Several other analysts have also recently weighed in on the stock. Craig Hallum decreased their price objective on shares of Accelerate Diagnostics from $2.00 to $1.00 and set a hold rating on the stock in a research note on Monday, April 1st. William Blair reissued an outperform rating on shares of Accelerate Diagnostics in a research note on Tuesday, April 2nd.

Accelerate Diagnostics Stock Performance

Accelerate Diagnostics stock opened at $0.88 on Friday. The firm has a market capitalization of $19.10 million, a PE ratio of -0.18 and a beta of 0.52. The business’s 50-day simple moving average is $0.96 and its 200-day simple moving average is $2.88. Accelerate Diagnostics has a 52 week low of $0.73 and a 52 week high of $11.90.

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

Institutional Trading of Accelerate Diagnostics

A number of hedge funds and other institutional investors have recently modified their holdings of AXDX. Sonora Investment Management Group LLC acquired a new stake in Accelerate Diagnostics in the 3rd quarter valued at about $63,000. Tejara Capital Ltd acquired a new stake in shares of Accelerate Diagnostics during the 3rd quarter worth about $78,000. TCI Wealth Advisors Inc. acquired a new position in Accelerate Diagnostics in the 3rd quarter valued at about $337,000. Finally, Griffin Asset Management Inc. raised its holdings in Accelerate Diagnostics by 3.0% in the 4th quarter. Griffin Asset Management Inc. now owns 1,219,724 shares of the medical research company’s stock valued at $4,781,000 after acquiring an additional 35,146 shares during the period. Institutional investors and hedge funds own 17.14% of the company’s stock.

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.