Accelerate Diagnostics (NASDAQ:AXDX) Now Covered by Analysts at StockNews.com

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

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

Accelerate Diagnostics Trading Down 1.1 %

NASDAQ AXDX opened at $0.90 on Monday. Accelerate Diagnostics has a 12 month low of $0.73 and a 12 month high of $11.90. The company’s 50 day moving average is $0.94 and its two-hundred day moving average is $2.65. The stock has a market cap of $19.39 million, a price-to-earnings ratio of -0.18 and a beta of 0.53.

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

Institutional Investors Weigh In On Accelerate Diagnostics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sonora Investment Management Group LLC purchased a new stake in shares of Accelerate Diagnostics in the third quarter valued at approximately $63,000. Tejara Capital Ltd acquired a new stake in shares of Accelerate Diagnostics in the third quarter valued at approximately $78,000. TCI Wealth Advisors Inc. purchased a new position in Accelerate Diagnostics during the third quarter worth approximately $337,000. Finally, Griffin Asset Management Inc. increased its stake in shares of Accelerate Diagnostics by 11.0% in the 1st quarter. Griffin Asset Management Inc. now owns 1,354,254 shares of the medical research company’s stock worth $1,341,000 after acquiring an additional 134,530 shares during the last quarter. 17.14% of the stock is owned by institutional investors and hedge funds.

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.