Accelerate Diagnostics (NASDAQ:AXDX) Earns Hold Rating from Analysts at StockNews.com

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

AXDX has been the topic of a number of other research reports. Craig Hallum cut their target price 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 restated an outperform rating on shares of Accelerate Diagnostics in a research note on Tuesday, April 2nd.

Accelerate Diagnostics Price Performance

Shares of AXDX stock opened at $0.95 on Friday. The firm has a market capitalization of $20.58 million, a P/E ratio of -0.19 and a beta of 0.52. The company’s fifty day moving average price is $0.98 and its two-hundred day moving average price is $3.03. Accelerate Diagnostics has a 12 month low of $0.73 and a 12 month high of $11.90.

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

Institutional Investors Weigh In On Accelerate Diagnostics

A number of institutional investors have recently modified their holdings of AXDX. Sonora Investment Management Group LLC bought a new stake in shares of Accelerate Diagnostics during the 3rd quarter valued at about $63,000. Tejara Capital Ltd bought a new stake in shares of Accelerate Diagnostics during the 3rd quarter valued at about $78,000. TCI Wealth Advisors Inc. bought a new stake in shares of Accelerate Diagnostics during the 3rd quarter valued at about $337,000. Finally, Griffin Asset Management Inc. grew its position in shares of Accelerate Diagnostics by 11.0% during the 1st quarter. Griffin Asset Management Inc. now owns 1,354,254 shares of the medical research company’s stock valued at $1,341,000 after buying an additional 134,530 shares during the last quarter. Institutional investors 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.