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 note published on Tuesday. The brokerage issued a hold rating on the medical research company’s stock.

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

Accelerate Diagnostics Stock Performance

AXDX stock opened at $1.12 on Tuesday. The firm has a 50 day moving average price of $1.15 and a 200-day moving average price of $1.43. Accelerate Diagnostics has a 52-week low of $0.73 and a 52-week high of $8.72. The firm has a market capitalization of $24.70 million, a price-to-earnings ratio of -0.28 and a beta of 0.57.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings data on Wednesday, May 8th. The medical research company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.16). The company had revenue of $2.92 million during the quarter, compared to the consensus estimate of $3.00 million. As a group, sell-side analysts forecast that Accelerate Diagnostics will post -2.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. boosted its position in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 11.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund 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 about 6.25% of Accelerate Diagnostics worth $1,341,000 as of its most recent SEC filing. 17.14% of the stock is currently owned by institutional investors and hedge funds.

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.