Accelerate Diagnostics (AXDX) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research lowered shares of Accelerate Diagnostics (NASDAQ:AXDX) from a hold rating to a sell rating in a research note issued to investors on Monday morning.

According to Zacks, “Accelerate Diagnostics, Inc. is focused on developing and commercializing instrumentation for the rapid identification and antibiotic susceptibility testing of infectious pathogens. The company is developing BACcel(TM) system, a rapid diagnostic platform for diagnosis in life-threatening bacterial infections and OptiChem(R) surface coatings for use in micro arraying components. Accelerate Diagnostics Inc., formerly known as Accelr8 Technology Corp., is based in Denver, Colorado. “

AXDX has been the subject of a number of other reports. BidaskClub raised shares of Accelerate Diagnostics from a hold rating to a buy rating in a research note on Thursday, February 22nd. ValuEngine raised shares of Accelerate Diagnostics from a sell rating to a hold rating in a research note on Friday, February 2nd. Finally, BTIG Research reaffirmed a hold rating on shares of Accelerate Diagnostics in a research note on Sunday, February 18th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. Accelerate Diagnostics presently has a consensus rating of Hold and an average price target of $33.00.

Shares of NASDAQ AXDX opened at $20.00 on Monday. The firm has a market capitalization of $1.07 billion, a P/E ratio of -17.24 and a beta of 2.17. The company has a debt-to-equity ratio of 0.65, a current ratio of 27.80 and a quick ratio of 26.44. Accelerate Diagnostics has a 1-year low of $19.85 and a 1-year high of $20.40.

Accelerate Diagnostics (NASDAQ:AXDX) last announced its earnings results on Wednesday, May 9th. The medical research company reported ($0.27) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.32) by $0.05. The firm had revenue of $0.80 million during the quarter, compared to analyst estimates of $2.64 million. Accelerate Diagnostics had a negative net margin of 1,568.29% and a negative return on equity of 51.23%. sell-side analysts expect that Accelerate Diagnostics will post -1.38 earnings per share for the current year.

In other Accelerate Diagnostics news, Director Jack W. Schuler acquired 15,000 shares of Accelerate Diagnostics stock in a transaction dated Thursday, March 1st. The stock was bought at an average cost of $25.15 per share, for a total transaction of $377,250.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jack W. Schuler acquired 20,000 shares of Accelerate Diagnostics stock in a transaction dated Tuesday, February 20th. The shares were acquired at an average price of $24.95 per share, with a total value of $499,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 45,100 shares of company stock valued at $1,130,850. Company insiders own 49.30% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Artal Group S.A. lifted its stake in Accelerate Diagnostics by 150.0% in the 4th quarter. Artal Group S.A. now owns 500,000 shares of the medical research company’s stock valued at $13,100,000 after purchasing an additional 300,000 shares during the last quarter. Deutsche Bank AG lifted its stake in Accelerate Diagnostics by 1,236.9% in the 4th quarter. Deutsche Bank AG now owns 312,470 shares of the medical research company’s stock valued at $8,185,000 after purchasing an additional 289,098 shares during the last quarter. Chicago Capital LLC acquired a new stake in Accelerate Diagnostics in the 1st quarter valued at about $6,593,000. Amundi Pioneer Asset Management Inc. acquired a new stake in Accelerate Diagnostics in the 4th quarter valued at about $5,311,000. Finally, Wells Fargo & Company MN lifted its stake in Accelerate Diagnostics by 326.3% in the 1st quarter. Wells Fargo & Company MN now owns 262,745 shares of the medical research company’s stock valued at $6,004,000 after purchasing an additional 201,113 shares during the last quarter. Institutional investors own 45.33% 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. 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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