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

Equities research analysts at StockNews.com initiated coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a report released on Monday. The brokerage set a “hold” rating on the medical research company’s stock.

A number of other research analysts have also recently weighed in on AXDX. Craig Hallum lowered their price objective on Accelerate Diagnostics from $2.00 to $1.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. William Blair restated an “outperform” rating on shares of Accelerate Diagnostics in a research report on Tuesday, April 2nd.

Accelerate Diagnostics Price Performance

NASDAQ AXDX opened at $1.15 on Monday. The stock has a market capitalization of $25.36 million, a price-to-earnings ratio of -0.28 and a beta of 0.57. Accelerate Diagnostics has a 1-year low of $0.73 and a 1-year high of $8.72. The business’s fifty day moving average price is $1.12 and its 200-day moving average price is $1.55.

Accelerate Diagnostics (NASDAQ:AXDX) last announced its earnings results on Wednesday, May 8th. The medical research company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.16). The business had revenue of $2.92 million during the quarter, compared to analyst estimates of $3.00 million. Equities research analysts anticipate that Accelerate Diagnostics will post -2.37 EPS for the current year.

Institutional Investors Weigh In On Accelerate Diagnostics

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. increased its stake in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 11.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,354,254 shares of the medical research company’s stock after purchasing an additional 134,530 shares during the quarter. Griffin Asset Management Inc. owned approximately 6.25% of Accelerate Diagnostics worth $1,341,000 as of its most recent SEC filing. Institutional investors and hedge funds own 17.14% 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, 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.