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

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

Other equities research analysts also recently issued reports about the stock. Craig Hallum lowered their target price on shares of Accelerate Diagnostics from $2.00 to $1.00 and set a hold rating for the company in a research note on Monday, April 1st. William Blair reissued an outperform rating on shares of Accelerate Diagnostics in a research report on Tuesday, April 2nd.

Accelerate Diagnostics Price Performance

AXDX stock opened at $0.90 on Monday. The company has a market capitalization of $19.39 million, a PE ratio of -0.18 and a beta of 0.53. The firm’s 50-day moving average is $0.94 and its 200 day moving average is $2.65. Accelerate Diagnostics has a 12 month low of $0.73 and a 12 month high of $11.90.

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

Institutional Investors Weigh In On Accelerate Diagnostics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Griffin Asset Management Inc. boosted its position in Accelerate Diagnostics by 11.0% during the first quarter. Griffin Asset Management Inc. now owns 1,354,254 shares of the medical research company’s stock worth $1,341,000 after purchasing an additional 134,530 shares in the last quarter. Tejara Capital Ltd purchased a new position in Accelerate Diagnostics during the third quarter valued at $78,000. Sonora Investment Management Group LLC acquired a new stake in shares of Accelerate Diagnostics in the third quarter valued at about $63,000. Finally, TCI Wealth Advisors Inc. purchased a new stake in shares of Accelerate Diagnostics during the third quarter worth about $337,000. Institutional investors and hedge funds 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.