Accelerate Diagnostics (NASDAQ:AXDX) Now Covered by StockNews.com

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

Other equities analysts also recently issued reports about the company. William Blair restated an “outperform” rating on shares of Accelerate Diagnostics in a report on Tuesday, April 2nd. Craig Hallum reduced 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.

Accelerate Diagnostics Price Performance

NASDAQ:AXDX opened at $1.30 on Thursday. Accelerate Diagnostics has a one year low of $0.73 and a one year high of $7.58. The company’s 50-day simple moving average is $1.21 and its 200 day simple moving average is $1.21. The firm has a market capitalization of $28.67 million, a P/E ratio of -0.32 and a beta of 0.57.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings results on Wednesday, May 8th. The medical research company reported ($0.88) earnings per share for the quarter, missing the consensus estimate 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. On average, equities research analysts expect that Accelerate Diagnostics will post -2.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Accelerate Diagnostics stock. Griffin Asset Management Inc. increased its holdings in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 11.0% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,354,254 shares of the medical research company’s stock after buying an additional 134,530 shares during the quarter. Griffin Asset Management Inc. owned about 6.25% of Accelerate Diagnostics worth $1,341,000 at the end of the most recent reporting period. 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.