StockNews.com Begins Coverage on Accelerate Diagnostics (NASDAQ:AXDX)

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

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

Accelerate Diagnostics Trading Down 4.5 %

Shares of AXDX stock opened at $0.88 on Friday. The company has a market capitalization of $19.10 million, a P/E ratio of -0.18 and a beta of 0.52. Accelerate Diagnostics has a 12-month low of $0.73 and a 12-month high of $11.90. The business’s 50 day moving average is $0.96 and its two-hundred day moving average is $2.88.

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

Institutional Investors Weigh In On Accelerate Diagnostics

Hedge funds have recently bought and sold shares of the stock. Sonora Investment Management Group LLC purchased a new stake in Accelerate Diagnostics during the 3rd quarter worth about $63,000. Tejara Capital Ltd purchased a new position in shares of Accelerate Diagnostics during the third quarter worth about $78,000. TCI Wealth Advisors Inc. purchased a new stake in shares of Accelerate Diagnostics in the 3rd quarter valued at about $337,000. Finally, Griffin Asset Management Inc. boosted its position in shares of Accelerate Diagnostics by 11.0% in the 1st quarter. Griffin Asset Management Inc. now owns 1,354,254 shares of the medical research company’s stock valued at $1,341,000 after purchasing an additional 134,530 shares during the period. Institutional investors and hedge funds 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.