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

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

AXDX has been the subject of several other reports. William Blair reissued an outperform rating on shares of Accelerate Diagnostics in a report on Tuesday, April 2nd. Craig Hallum decreased their price objective on shares of Accelerate Diagnostics from $2.00 to $1.00 and set a hold rating on the stock in a research report on Monday, April 1st.

Accelerate Diagnostics Stock Performance

Shares of NASDAQ AXDX opened at $1.28 on Friday. Accelerate Diagnostics has a fifty-two week low of $0.73 and a fifty-two week high of $8.72. The firm’s 50-day simple moving average is $1.07 and its 200 day simple moving average is $1.72. The stock has a market cap of $28.22 million, a price-to-earnings ratio of -0.31 and a beta of 0.65.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its quarterly earnings results on Wednesday, May 8th. The medical research company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.16). The firm had revenue of $2.92 million for the quarter, compared to the consensus estimate of $3.00 million. On average, sell-side analysts predict that Accelerate Diagnostics will post -2.37 EPS for the current year.

Institutional Investors Weigh In On Accelerate Diagnostics

An institutional investor recently raised its position 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 its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,354,254 shares of the medical research company’s stock after purchasing an additional 134,530 shares during the period. Griffin Asset Management Inc. owned 6.25% of Accelerate Diagnostics worth $1,341,000 at the end of the most recent reporting period. 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.