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

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

A number of other research firms have also recently commented on AXDX. Craig Hallum lowered their target price on 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 reiterated an outperform rating on shares of Accelerate Diagnostics in a research note on Tuesday, April 2nd.

Accelerate Diagnostics Price Performance

AXDX opened at $0.93 on Friday. The stock’s 50 day simple moving average is $0.96 and its 200 day simple moving average is $2.92. Accelerate Diagnostics has a 1 year low of $0.73 and a 1 year high of $11.90. The firm has a market cap of $20.15 million, a price-to-earnings ratio of -0.19 and a beta of 0.52.

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

Institutional Trading of Accelerate Diagnostics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Griffin Asset Management Inc. grew its holdings in shares of Accelerate Diagnostics by 11.0% in 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 acquiring an additional 134,530 shares during the period. Tejara Capital Ltd bought a new stake in Accelerate Diagnostics during the third quarter valued at about $78,000. Sonora Investment Management Group LLC bought a new stake in Accelerate Diagnostics during the third quarter valued at about $63,000. Finally, TCI Wealth Advisors Inc. bought a new stake in Accelerate Diagnostics during the third quarter valued at about $337,000. Institutional investors 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.