Accelerate Diagnostics (NASDAQ:AXDX) Receives New Coverage from Analysts at StockNews.com

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

Accelerate Diagnostics Trading Up 7.1 %

AXDX opened at $1.95 on Friday. Accelerate Diagnostics has a 1-year low of $0.73 and a 1-year high of $7.00. The firm’s 50 day simple moving average is $1.63 and its two-hundred day simple moving average is $1.26. The company has a market capitalization of $43.00 million, a PE ratio of -0.48 and a beta of 0.61.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings data on Thursday, August 8th. The medical research company reported ($0.50) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.05. The company had revenue of $2.99 million for the quarter, compared to analysts’ expectations of $3.00 million. Equities analysts forecast that Accelerate Diagnostics will post -2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Accelerate Diagnostics stock. Griffin Asset Management Inc. increased its holdings in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 approximately 6.26% of Accelerate Diagnostics worth $1,615,000 at the end of the most recent reporting period. 17.14% of the stock is currently 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.