StockNews.com Initiates Coverage on Accelerate Diagnostics (NASDAQ:AXDX)

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

A number of other equities analysts have also recently weighed in on AXDX. William Blair reiterated an outperform rating on shares of Accelerate Diagnostics in a report on Tuesday, April 2nd. Craig Hallum lowered their price objective 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.

Read Our Latest Analysis on AXDX

Accelerate Diagnostics Stock Up 8.2 %

Shares of AXDX opened at $1.38 on Wednesday. The stock has a market cap of $30.43 million, a PE ratio of -0.34 and a beta of 0.53. Accelerate Diagnostics has a 52-week low of $0.73 and a 52-week high of $11.90. The firm’s fifty day moving average is $0.93 and its two-hundred day moving average is $2.24.

Accelerate Diagnostics (NASDAQ:AXDXGet Free Report) last released its quarterly earnings data on Thursday, March 28th. The medical research company reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.27). The business had revenue of $3.03 million during the quarter, compared to the consensus estimate of $3.80 million. As a group, research analysts anticipate that Accelerate Diagnostics will post -2.37 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Accelerate Diagnostics stock. Griffin Asset Management Inc. increased its position in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDXFree Report) by 11.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,354,254 shares of the medical research company’s stock after purchasing an additional 134,530 shares during the period. Griffin Asset Management Inc. owned 6.25% of Accelerate Diagnostics worth $1,341,000 at the end of the most recent quarter. 17.14% of the stock is owned by institutional investors and hedge funds.

Accelerate Diagnostics Company Profile

(Get Free Report)

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.

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