StockNews.com Begins Coverage on Accelerate Diagnostics (NASDAQ:AXDX)

StockNews.com initiated coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research note issued to investors on Tuesday morning. The firm issued a hold rating on the medical research company’s stock.

Other research analysts have also recently issued research reports about the stock. Craig Hallum decreased their price objective on shares of Accelerate Diagnostics from $2.00 to $1.00 and set a hold rating for the company in a report on Monday, April 1st. William Blair restated an outperform rating on shares of Accelerate Diagnostics in a research report on Tuesday, April 2nd.

Accelerate Diagnostics Stock Up 2.1 %

NASDAQ:AXDX opened at $0.91 on Tuesday. Accelerate Diagnostics has a 12-month low of $0.73 and a 12-month high of $11.90. The stock’s fifty day simple moving average is $0.94 and its 200-day simple moving average is $2.49. The firm has a market capitalization of $19.71 million, a P/E ratio of -0.22 and a beta of 0.53.

Accelerate Diagnostics (NASDAQ:AXDX) last released its earnings results on Thursday, March 28th. The medical research company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.27). The business had revenue of $3.03 million during the quarter, compared to analysts’ expectations of $3.80 million. As a group, equities research analysts expect that Accelerate Diagnostics will post -2.27 earnings per share for the current year.

Institutional Investors Weigh In On Accelerate Diagnostics

Several institutional investors have recently added to or reduced their stakes in AXDX. Sonora Investment Management Group LLC acquired a new position in shares of Accelerate Diagnostics during the third quarter worth about $63,000. Tejara Capital Ltd bought a new stake in shares of Accelerate Diagnostics in the third quarter worth $78,000. Griffin Asset Management Inc. boosted its holdings in Accelerate Diagnostics by 3.0% during the fourth quarter. Griffin Asset Management Inc. now owns 1,219,724 shares of the medical research company’s stock worth $4,781,000 after purchasing an additional 35,146 shares during the last quarter. Finally, TCI Wealth Advisors Inc. bought a new position in Accelerate Diagnostics in the third quarter valued at $337,000. 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.