Accelerate Diagnostics Inc. (AXDX) Lifted to “Hold” at Zacks Investment Research
Accelerate Diagnostics Inc. (NASDAQ:AXDX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “Accelerate Diagnostics, Inc. is focused on developing and commercializing instrumentation for the rapid identification and antibiotic susceptibility testing of infectious pathogens. The company is developing BACcel(TM) system, a rapid diagnostic platform for diagnosis in life-threatening bacterial infections and OptiChem(R) surface coatings for use in micro arraying components. Accelerate Diagnostics Inc., formerly known as Accelr8 Technology Corp., is based in Denver, Colorado. “
A number of other research analysts have also weighed in on AXDX. BTIG Research reissued a “buy” rating and issued a $26.00 target price on shares of Accelerate Diagnostics in a research note on Wednesday, June 15th. JPMorgan Chase & Co. raised their target price on shares of Accelerate Diagnostics from $17.00 to $25.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 9th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $25.33.
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Accelerate Diagnostics (NASDAQ:AXDX) traded up 1.67% during mid-day trading on Monday, reaching $27.40. The company’s stock had a trading volume of 121,870 shares. The company’s 50-day moving average price is $25.06 and its 200 day moving average price is $17.87. Accelerate Diagnostics has a 52 week low of $10.29 and a 52 week high of $28.50. The firm’s market capitalization is $1.40 billion.
Several hedge funds have recently made changes to their positions in AXDX. Fairfield Bush & CO. increased its stake in shares of Accelerate Diagnostics by 3.3% in the first quarter. Fairfield Bush & CO. now owns 18,875 shares of the company’s stock worth $271,000 after buying an additional 600 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Accelerate Diagnostics during the first quarter worth about $1,019,000. Nuveen Asset Management LLC increased its stake in shares of Accelerate Diagnostics by 13.8% in the first quarter. Nuveen Asset Management LLC now owns 620,541 shares of the company’s stock worth $8,917,000 after buying an additional 75,220 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of Accelerate Diagnostics by 2.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 17,271 shares of the company’s stock worth $248,000 after buying an additional 437 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Accelerate Diagnostics by 12.0% in the first quarter. Royal Bank of Canada now owns 17,485 shares of the company’s stock worth $251,000 after buying an additional 1,870 shares in the last quarter. Institutional investors and hedge funds own 35.62% of the company’s stock.
About Accelerate Diagnostics
Accelerate Diagnostics, Inc is an in vitro diagnostics company engaged in providing solutions that improve patient outcomes and lower healthcare costs through the diagnosis of serious infections. The Company’s technology platform is built to address these challenges by delivering testing of infectious pathogens in various patient sample types.
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