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

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

A number of other research firms have also recently commented on AXDX. Craig Hallum cut their price target on shares of Accelerate Diagnostics from $2.00 to $1.00 and set a “hold” rating on the stock in a report on Monday, April 1st. William Blair reiterated an “outperform” rating on shares of Accelerate Diagnostics in a report on Tuesday, April 2nd.

Accelerate Diagnostics Stock Performance

AXDX opened at $1.30 on Thursday. The stock’s 50 day moving average price is $1.21 and its 200-day moving average price is $1.21. Accelerate Diagnostics has a one year low of $0.73 and a one year high of $7.58. The stock has a market cap of $28.67 million, a price-to-earnings ratio of -0.32 and a beta of 0.57.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings data on Wednesday, May 8th. The medical research company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.16). The company had revenue of $2.92 million during the quarter, compared to the consensus estimate of $3.00 million. As a group, analysts predict that Accelerate Diagnostics will post -2.37 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. lifted its position in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,380,654 shares of the medical research company’s stock after buying 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.