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

StockNews.com began coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research note issued to investors on Tuesday. The brokerage issued a hold rating on the medical research company’s stock.

AXDX has been the topic of a number of other reports. Craig Hallum cut their target price 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 reiterated an outperform rating on shares of Accelerate Diagnostics in a report on Tuesday, April 2nd.

Accelerate Diagnostics Stock Up 2.7 %

Shares of AXDX opened at $1.15 on Tuesday. The business’s 50 day moving average is $1.15 and its two-hundred day moving average is $1.40. Accelerate Diagnostics has a 52-week low of $0.73 and a 52-week high of $7.58. The firm has a market cap of $25.36 million, a price-to-earnings ratio of -0.28 and a beta of 0.57.

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 analysts’ consensus estimates of ($0.72) by ($0.16). The business had revenue of $2.92 million during the quarter, compared to the consensus estimate of $3.00 million. On average, equities 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 stake in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,219,724 shares of the medical research company’s stock after buying an additional 35,146 shares during the quarter. Griffin Asset Management Inc. owned about 8.38% of Accelerate Diagnostics worth $4,781,000 at the end of the most recent quarter. 17.14% of the stock is owned by institutional investors.

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.