Accelerate Diagnostics Inc (AXDX) Given Consensus Recommendation of “Buy” by Brokerages

Accelerate Diagnostics Inc (NASDAQ:AXDX) has earned a consensus broker rating score of 1.50 (Buy) from the four brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and three have assigned a strong buy recommendation to the company. Accelerate Diagnostics’ rating score has declined by 50% in the last three months as a result of a number of analysts’ upgrades and downgrades.

Brokers have set a 12-month consensus target price of $26.50 for the company and are anticipating that the company will post ($0.33) EPS for the current quarter, according to Zacks. Zacks has also given Accelerate Diagnostics an industry rank of 162 out of 265 based on the ratings given to its competitors.

Several analysts have issued reports on AXDX shares. BTIG Research cut Accelerate Diagnostics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 13th. They noted that the move was a valuation call. Zacks Investment Research upgraded Accelerate Diagnostics from a “sell” rating to a “hold” rating in a report on Monday, January 8th. Finally, ValuEngine upgraded Accelerate Diagnostics from a “sell” rating to a “hold” rating in a report on Friday, February 2nd.

In other Accelerate Diagnostics news, Director Jack W. Schuler purchased 51,181 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were acquired at an average price of $18.67 per share, with a total value of $955,549.27. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jack W. Schuler purchased 20,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was acquired at an average cost of $18.98 per share, for a total transaction of $379,600.00. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 96,681 shares of company stock worth $1,856,149. Corporate insiders own 50.00% of the company’s stock.

Several institutional investors have recently made changes to their positions in AXDX. Schwab Charles Investment Management Inc. lifted its stake in shares of Accelerate Diagnostics by 7.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 117,236 shares of the medical research company’s stock valued at $3,207,000 after purchasing an additional 7,930 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Accelerate Diagnostics by 31.7% in the 2nd quarter. Legal & General Group Plc now owns 6,748 shares of the medical research company’s stock valued at $184,000 after purchasing an additional 1,625 shares during the last quarter. Swiss National Bank lifted its stake in shares of Accelerate Diagnostics by 6.7% in the 2nd quarter. Swiss National Bank now owns 55,900 shares of the medical research company’s stock valued at $1,529,000 after purchasing an additional 3,500 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Accelerate Diagnostics by 21.2% in the 2nd quarter. Wells Fargo & Company MN now owns 73,328 shares of the medical research company’s stock valued at $2,005,000 after purchasing an additional 12,840 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of Accelerate Diagnostics by 7.4% in the 2nd quarter. Alliancebernstein L.P. now owns 35,010 shares of the medical research company’s stock valued at $958,000 after purchasing an additional 2,400 shares during the last quarter. 47.77% of the stock is currently owned by institutional investors and hedge funds.

Shares of Accelerate Diagnostics (AXDX) opened at $25.40 on Wednesday. The stock has a market capitalization of $1,487.43, a price-to-earnings ratio of -21.17 and a beta of 2.20. Accelerate Diagnostics has a twelve month low of $16.75 and a twelve month high of $30.45.

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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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