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

Equities researchers at StockNews.com assumed coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a report issued on Tuesday. The brokerage set a “hold” rating on the medical research company’s stock.

Accelerate Diagnostics Stock Up 1.6 %

Shares of NASDAQ AXDX opened at $1.88 on Tuesday. The company has a market capitalization of $41.46 million, a PE ratio of -0.46 and a beta of 0.61. The stock’s 50 day moving average price is $1.76 and its 200-day moving average price is $1.38. Accelerate Diagnostics has a twelve month low of $0.73 and a twelve month high of $6.25.

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

Hedge Funds Weigh In On Accelerate Diagnostics

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. lifted its position in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,380,654 shares of the medical research company’s stock after acquiring 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 quarter. 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.