Accelerate Diagnostics, Inc. (AXDX) Upgraded to Buy by BidaskClub
Accelerate Diagnostics, Inc. (NASDAQ:AXDX) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Friday.
A number of other analysts also recently commented on AXDX. Zacks Investment Research raised Accelerate Diagnostics from a “sell” rating to a “hold” rating in a research report on Thursday, March 2nd. BTIG Research reaffirmed a “buy” rating and set a $34.00 price target on shares of Accelerate Diagnostics in a research report on Wednesday, May 17th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $32.00 price target (up from $30.00) on shares of Accelerate Diagnostics in a research report on Monday, June 5th. Five equities research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus target price of $31.00.
Accelerate Diagnostics (NASDAQ:AXDX) traded down 0.17% on Friday, hitting $30.25. The company’s stock had a trading volume of 601,010 shares. The stock’s market cap is $1.57 billion. Accelerate Diagnostics has a 12 month low of $13.65 and a 12 month high of $30.45. The firm has a 50 day moving average of $27.94 and a 200-day moving average of $24.43.
Accelerate Diagnostics (NASDAQ:AXDX) last issued its quarterly earnings results on Friday, May 5th. The medical research company reported ($0.27) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.07. The company had revenue of $0.50 million during the quarter, compared to the consensus estimate of $0.60 million. Accelerate Diagnostics had a negative return on equity of 76.35% and a negative net margin of 11,158.43%. On average, analysts expect that Accelerate Diagnostics will post ($1.18) earnings per share for the current fiscal year.
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In related news, insider Steven Reichling sold 30,000 shares of the stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $28.90, for a total transaction of $867,000.00. Following the completion of the sale, the insider now directly owns 30,700 shares of the company’s stock, valued at $887,230. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 51.40% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. acquired a new stake in shares of Accelerate Diagnostics during the fourth quarter worth approximately $282,000. State Street Corp raised its position in shares of Accelerate Diagnostics by 8.7% in the fourth quarter. State Street Corp now owns 416,027 shares of the medical research company’s stock valued at $8,634,000 after buying an additional 33,401 shares during the period. Credit Agricole S A purchased a new position in shares of Accelerate Diagnostics during the fourth quarter valued at $1,380,000. A.R.T. Advisors LLC purchased a new position in shares of Accelerate Diagnostics during the fourth quarter valued at $410,000. Finally, GSA Capital Partners LLP raised its position in shares of Accelerate Diagnostics by 260.8% in the fourth quarter. GSA Capital Partners LLP now owns 43,300 shares of the medical research company’s stock valued at $898,000 after buying an additional 31,300 shares during the period. 37.31% of the stock is owned by institutional investors.
About Accelerate Diagnostics
Accelerate Diagnostics, Inc is an in vitro diagnostics company engaged in providing solutions that develop patient outcomes through the diagnosis of serious infections. The Company’s in vitro diagnostic platform, the Accelerate Pheno system utilizes genotypic technology to identify (ID), infectious pathogens and phenotypic technology to conduct antibiotic susceptibility testing (AST), which determines whether live bacterial or fungal cells are resistant or susceptible to a particular antibiotic.
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