Accelerate Diagnostics (NASDAQ:AXDX) Coverage Initiated by Analysts at StockNews.com

Posted by Donna Armstrong on Nov 2nd, 2024

StockNews.com began coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX – Free Report) in a research note released on Tuesday. The brokerage issued a hold rating on the medical research company’s stock.

Accelerate Diagnostics Stock Up 0.8 %

Shares of NASDAQ AXDX opened at $1.94 on Tuesday. The business has a fifty day simple moving average of $1.77 and a 200-day simple moving average of $1.40. The company has a market cap of $45.82 million, a price-to-earnings ratio of -0.88 and a beta of 0.61. Accelerate Diagnostics has a 12 month low of $0.73 and a 12 month high of $6.25.

Accelerate Diagnostics (NASDAQ:AXDX – Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The medical research company reported ($0.50) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.05. The firm had revenue of $2.99 million for the quarter, compared to analysts’ expectations of $3.00 million. As a group, sell-side analysts expect that Accelerate Diagnostics will post -2.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Accelerate Diagnostics

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. boosted its holdings in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX – Free Report) by 1.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,380,654 shares of the medical research company’s stock after acquiring an additional 26,400 shares during the quarter. Griffin Asset Management Inc. owned 6.26% of Accelerate Diagnostics worth $1,615,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 17.14% of the company’s stock.

Accelerate Diagnostics Company Profile

(Get Free Report)

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.