Accelerate Diagnostics (NASDAQ:AXDX) Coverage Initiated by Analysts at StockNews.com

Research analysts at StockNews.com began coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research note issued to investors on Tuesday. The firm set a “hold” rating on the medical research company’s stock.

Accelerate Diagnostics Price Performance

Shares of AXDX stock opened at $2.00 on Tuesday. The stock has a market cap of $44.07 million, a PE ratio of -0.49 and a beta of 0.57. The stock has a 50-day moving average of $1.40 and a 200-day moving average of $1.17. Accelerate Diagnostics has a one year low of $0.73 and a one year high of $7.25.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its earnings results on Thursday, August 8th. The medical research company reported ($0.50) 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 anticipate that Accelerate Diagnostics will post -2.14 earnings per share for the current year.

Institutional Trading of Accelerate Diagnostics

An institutional investor recently raised its position in Accelerate Diagnostics stock. Griffin Asset Management Inc. raised its position in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,380,654 shares of the medical research company’s stock after purchasing an additional 26,400 shares during the quarter. Griffin Asset Management Inc. owned 6.26% of Accelerate Diagnostics worth $1,615,000 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.