Accelerate Diagnostics, Inc. (AXDX) Lifted to “Buy” at BidaskClub
Accelerate Diagnostics, Inc. (NASDAQ:AXDX) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.
A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research upgraded Accelerate Diagnostics from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research report on Monday, May 8th. Piper Jaffray Companies restated an “overweight” rating and issued a $32.00 target price (up from $30.00) on shares of Accelerate Diagnostics in a research report on Monday, June 5th. Finally, BTIG Research restated a “buy” rating and issued a $34.00 target price on shares of Accelerate Diagnostics in a research report on Wednesday, May 17th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $31.00.
Shares of Accelerate Diagnostics (NASDAQ AXDX) traded up 2.44% during trading on Thursday, reaching $29.40. The company had a trading volume of 195,375 shares. Accelerate Diagnostics has a 12 month low of $18.72 and a 12 month high of $30.45. The stock’s market capitalization is $1.61 billion. The stock’s 50-day moving average price is $27.97 and its 200-day moving average price is $24.71.
Accelerate Diagnostics (NASDAQ:AXDX) last released its earnings results on Friday, May 5th. The medical research company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.07. The firm 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%. Equities analysts forecast that Accelerate Diagnostics will post ($1.18) earnings per share for the current fiscal year.
In other Accelerate Diagnostics news, insider Steven Reichling sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $28.90, for a total value of $867,000.00. Following the completion of the sale, the insider now directly owns 30,700 shares in the company, valued at $887,230. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 51.40% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in AXDX. FMR LLC purchased a new stake in Accelerate Diagnostics during the first quarter worth $7,260,000. Credit Suisse AG increased its stake in shares of Accelerate Diagnostics by 138.4% in the first quarter. Credit Suisse AG now owns 413,131 shares of the medical research company’s stock worth $9,998,000 after buying an additional 239,803 shares during the period. Kornitzer Capital Management Inc. KS bought a new stake in shares of Accelerate Diagnostics during the first quarter worth approximately $5,591,000. Loomis Sayles & Co. L P increased its stake in shares of Accelerate Diagnostics by 25.2% in the first quarter. Loomis Sayles & Co. L P now owns 679,030 shares of the medical research company’s stock worth $16,433,000 after buying an additional 136,770 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Accelerate Diagnostics by 10.3% in the first quarter. Vanguard Group Inc. now owns 1,159,421 shares of the medical research company’s stock worth $28,058,000 after buying an additional 107,977 shares during the period. Hedge funds and other institutional investors own 37.31% of the company’s stock.
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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