Accelerate Diagnostics (NASDAQ:AXDX) Earns Hold Rating from Analysts at StockNews.com

Stock analysts at StockNews.com started coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research report issued on Saturday. The firm set a “hold” rating on the medical research company’s stock.

Accelerate Diagnostics Trading Up 7.1 %

AXDX opened at $1.95 on Friday. The company has a market cap of $43.00 million, a price-to-earnings ratio of -0.48 and a beta of 0.61. The company’s fifty day moving average price is $1.64 and its two-hundred day moving average price is $1.27. Accelerate Diagnostics has a 1-year low of $0.73 and a 1-year high of $7.00.

Accelerate Diagnostics (NASDAQ:AXDX) last announced its quarterly earnings results on Thursday, August 8th. The medical research company reported ($0.50) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.05. The business had revenue of $2.99 million during the quarter, compared to the consensus estimate of $3.00 million. As a group, equities analysts forecast that Accelerate Diagnostics will post -2.14 earnings per share for the current fiscal 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 position in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 11.0% during the 1st quarter, according to the company in 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 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.

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.