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

StockNews.com began coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a report published on Monday morning. The firm issued a hold rating on the medical research company’s stock.

AXDX has been the topic of a number of other reports. 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. William Blair reiterated an outperform rating on shares of Accelerate Diagnostics in a report on Tuesday, April 2nd.

Accelerate Diagnostics Price Performance

AXDX stock opened at $1.17 on Monday. The business has a 50 day simple moving average of $1.11 and a 200-day simple moving average of $1.57. The firm has a market capitalization of $25.80 million, a PE ratio of -0.29 and a beta of 0.57. Accelerate Diagnostics has a 1 year low of $0.73 and a 1 year high of $8.72.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly 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 firm had revenue of $2.92 million during the quarter, compared to analyst estimates of $3.00 million. On average, equities research analysts expect that Accelerate Diagnostics will post -2.37 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. grew its position in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 11.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 approximately 6.25% of Accelerate Diagnostics worth $1,341,000 as of its most recent SEC filing. 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.