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

Investment analysts at StockNews.com assumed coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a report issued on Sunday. The brokerage set a “hold” rating on the medical research company’s stock.

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

Accelerate Diagnostics Stock Performance

Shares of AXDX opened at $0.93 on Friday. Accelerate Diagnostics has a 1 year low of $0.73 and a 1 year high of $11.90. The stock has a market capitalization of $20.15 million, a PE ratio of -0.19 and a beta of 0.52. The stock has a 50-day simple moving average of $0.96 and a 200-day simple moving average of $2.94.

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

Hedge Funds Weigh In On Accelerate Diagnostics

Several hedge funds have recently made changes to their positions in AXDX. Sonora Investment Management Group LLC acquired a new stake in shares of Accelerate Diagnostics in the 3rd quarter valued at about $63,000. Tejara Capital Ltd acquired a new stake in shares of Accelerate Diagnostics during the third quarter worth $78,000. Griffin Asset Management Inc. lifted its holdings in shares of Accelerate Diagnostics by 3.0% during the fourth quarter. Griffin Asset Management Inc. now owns 1,219,724 shares of the medical research company’s stock worth $4,781,000 after purchasing an additional 35,146 shares during the period. Finally, TCI Wealth Advisors Inc. acquired a new position in Accelerate Diagnostics in the 3rd quarter valued at $337,000. Hedge funds and other institutional investors 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.