Accelerate Diagnostics (AXDX) Price Target Increased to $22.00 by Analysts at Piper Jaffray Companies

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Accelerate Diagnostics (NASDAQ:AXDX) had its price objective lifted by Piper Jaffray Companies to $22.00 in a research report issued on Wednesday, The Fly reports. The firm presently has an “overweight” rating on the medical research company’s stock. Piper Jaffray Companies’ price objective indicates a potential upside of 12.99% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research upgraded Accelerate Diagnostics from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Monday, November 12th. BidaskClub upgraded Accelerate Diagnostics from a “hold” rating to a “buy” rating in a report on Wednesday, January 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Accelerate Diagnostics has an average rating of “Hold” and an average price target of $18.75.

AXDX opened at $19.47 on Wednesday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 33.54 and a current ratio of 35.26. The firm has a market capitalization of $1.07 billion, a PE ratio of -16.78 and a beta of 3.11. Accelerate Diagnostics has a one year low of $10.23 and a one year high of $27.65.

In other Accelerate Diagnostics news, Director Thomas D. Brown purchased 10,000 shares of the stock in a transaction dated Wednesday, November 28th. The shares were acquired at an average price of $13.65 per share, for a total transaction of $136,500.00. Following the completion of the acquisition, the director now owns 16,381 shares of the company’s stock, valued at approximately $223,600.65. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 49.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of AXDX. SRS Capital Advisors Inc. acquired a new stake in shares of Accelerate Diagnostics in the third quarter worth about $115,000. Legal & General Group Plc lifted its position in shares of Accelerate Diagnostics by 45.2% in the fourth quarter. Legal & General Group Plc now owns 5,995 shares of the medical research company’s stock worth $69,000 after buying an additional 1,866 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its position in shares of Accelerate Diagnostics by 331.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 8,727 shares of the medical research company’s stock worth $100,000 after buying an additional 6,704 shares during the last quarter. HAP Trading LLC acquired a new stake in shares of Accelerate Diagnostics in the third quarter worth about $270,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Accelerate Diagnostics by 82.2% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 13,556 shares of the medical research company’s stock worth $159,000 after buying an additional 6,114 shares during the last quarter. Hedge funds and other institutional investors own 48.39% 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. 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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