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

StockNews.com initiated coverage on shares of Accelerate Diagnostics (NASDAQ:AXDXFree Report) in a research note issued to investors on Tuesday morning. The firm issued a hold rating on the medical research company’s stock.

AXDX has been the topic of a number of other reports. Craig Hallum dropped their target price on shares of Accelerate Diagnostics from $2.00 to $1.00 and set a hold rating on the stock in a research report on Monday, April 1st. William Blair reaffirmed an outperform rating on shares of Accelerate Diagnostics in a report on Tuesday, April 2nd.

View Our Latest Analysis on AXDX

Accelerate Diagnostics Stock Performance

NASDAQ:AXDX opened at $0.91 on Tuesday. Accelerate Diagnostics has a 1 year low of $0.73 and a 1 year high of $11.90. The stock has a market cap of $19.71 million, a P/E ratio of -0.22 and a beta of 0.53. The stock has a 50-day simple moving average of $0.94 and a 200-day simple moving average of $2.49.

Accelerate Diagnostics (NASDAQ:AXDXGet Free Report) last announced 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 during the quarter, compared to analysts’ expectations of $3.80 million. On average, equities research analysts predict that Accelerate Diagnostics will post -2.27 EPS for the current year.

Hedge Funds Weigh In On Accelerate Diagnostics

A number of institutional investors have recently modified their holdings of AXDX. Sonora Investment Management Group LLC purchased a new position in shares of Accelerate Diagnostics during the 3rd quarter worth approximately $63,000. Tejara Capital Ltd acquired a new position in shares of Accelerate Diagnostics during the 3rd quarter worth approximately $78,000. Griffin Asset Management Inc. lifted its position in shares of Accelerate Diagnostics by 3.0% in the fourth quarter. Griffin Asset Management Inc. now owns 1,219,724 shares of the medical research company’s stock valued at $4,781,000 after acquiring an additional 35,146 shares in the last quarter. Finally, TCI Wealth Advisors Inc. purchased a new position in Accelerate Diagnostics in the 3rd quarter valued at about $337,000. 17.14% of the stock is owned by institutional investors and hedge funds.

About Accelerate Diagnostics

(Get Free Report)

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.

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