StockNews.com Initiates Coverage on Accelerate Diagnostics (NASDAQ:AXDX)

Analysts at StockNews.com started coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research note issued to investors on Monday. The firm set a “hold” rating on the medical research company’s stock.

A number of other equities analysts also recently issued reports on AXDX. Craig Hallum cut their target price on Accelerate Diagnostics from $2.00 to $1.00 and set a “hold” rating for the company in a research note on Monday, April 1st. William Blair reissued an “outperform” rating on shares of Accelerate Diagnostics in a research note on Tuesday, April 2nd.

Accelerate Diagnostics Stock Down 1.8 %

AXDX opened at $0.92 on Monday. The business has a 50 day moving average price of $0.95 and a two-hundred day moving average price of $2.74. The company has a market cap of $20.03 million, a PE ratio of -0.19 and a beta of 0.53. Accelerate Diagnostics has a 52 week low of $0.73 and a 52 week high of $11.90.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings data on Thursday, March 28th. The medical research company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.27). The business had revenue of $3.03 million during the quarter, compared to analysts’ expectations of $3.80 million. As a group, sell-side analysts expect that Accelerate Diagnostics will post -2.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Accelerate Diagnostics

Institutional investors and hedge funds have recently modified their holdings of the company. Tejara Capital Ltd acquired a new stake in shares of Accelerate Diagnostics in the 3rd quarter worth approximately $78,000. Griffin Asset Management Inc. grew its holdings in shares of Accelerate Diagnostics by 3.0% in the 4th quarter. Griffin Asset Management Inc. now owns 1,219,724 shares of the medical research company’s stock worth $4,781,000 after acquiring an additional 35,146 shares during the period. TCI Wealth Advisors Inc. acquired a new stake in shares of Accelerate Diagnostics in the 3rd quarter worth approximately $337,000. Finally, Sonora Investment Management Group LLC acquired a new stake in shares of Accelerate Diagnostics in the 3rd quarter worth approximately $63,000. 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.