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

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

Accelerate Diagnostics Stock Performance

Shares of AXDX opened at $1.61 on Wednesday. The business’s fifty day moving average price is $1.48 and its two-hundred day moving average price is $1.20. The firm has a market capitalization of $35.50 million, a price-to-earnings ratio of -0.40 and a beta of 0.62. Accelerate Diagnostics has a 52 week low of $0.73 and a 52 week high of $7.00.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings results on Thursday, August 8th. The medical research company reported ($0.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.05. The firm had revenue of $2.99 million during the quarter, compared to the consensus estimate of $3.00 million. As a group, research analysts forecast that Accelerate Diagnostics will post -2.14 EPS for the current year.

Institutional Investors Weigh In On Accelerate Diagnostics

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. raised its holdings in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 11.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,354,254 shares of the medical research company’s stock after acquiring an additional 134,530 shares during the period. Griffin Asset Management Inc. owned approximately 6.25% of Accelerate Diagnostics worth $1,341,000 at the end of the most recent reporting period. 17.14% of the stock is currently owned by institutional investors.

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.