Accelerate Diagnostics (NASDAQ:AXDX) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a report released on Monday. The firm issued a hold rating on the medical research company’s stock.

Several other analysts also recently weighed in on the company. William Blair restated an outperform rating on shares of Accelerate Diagnostics in a report on Tuesday, April 2nd. Craig Hallum reduced their price target on shares of Accelerate Diagnostics from $2.00 to $1.00 and set a hold rating for the company in a report on Monday, April 1st.

Accelerate Diagnostics Stock Performance

Shares of NASDAQ:AXDX opened at $0.92 on Monday. The firm’s 50 day simple moving average is $0.95 and its 200-day simple moving average is $2.71. Accelerate Diagnostics has a one year low of $0.73 and a one year high of $11.90. The firm has a market cap of $19.93 million, a PE ratio of -0.19 and a beta of 0.53.

Accelerate Diagnostics (NASDAQ:AXDX) last announced its quarterly earnings data on Thursday, March 28th. The medical research company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.27). The company had revenue of $3.03 million during the quarter, compared to the consensus estimate of $3.80 million. Equities research analysts predict that Accelerate Diagnostics will post -2.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Accelerate Diagnostics

Hedge funds have recently made changes to their positions in the stock. Sonora Investment Management Group LLC bought a new position in Accelerate Diagnostics in the third quarter worth about $63,000. Tejara Capital Ltd bought a new position in shares of Accelerate Diagnostics during the 3rd quarter worth approximately $78,000. TCI Wealth Advisors Inc. purchased a new stake in Accelerate Diagnostics during the third quarter valued at approximately $337,000. Finally, Griffin Asset Management Inc. boosted its stake in Accelerate Diagnostics by 11.0% in the first quarter. Griffin Asset Management Inc. now owns 1,354,254 shares of the medical research company’s stock valued at $1,341,000 after acquiring an additional 134,530 shares in the last quarter. 17.14% of the stock is currently owned by hedge funds and other institutional investors.

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.