Accelerate Diagnostics (AXDX) Downgraded by BidaskClub to “Buy”

BidaskClub downgraded shares of Accelerate Diagnostics (NASDAQ:AXDX) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday morning.

A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research upgraded Accelerate Diagnostics from a sell rating to a hold rating in a report on Monday. Piper Jaffray Companies raised their target price on Accelerate Diagnostics to $22.00 and gave the stock an overweight rating in a report on Wednesday, February 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Accelerate Diagnostics has a consensus rating of Hold and a consensus price target of $18.75.

Shares of AXDX opened at $20.05 on Tuesday. The company has a current ratio of 22.88, a quick ratio of 21.89 and a debt-to-equity ratio of 2.09. Accelerate Diagnostics has a 1 year low of $10.23 and a 1 year high of $26.60. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -12.38 and a beta of 3.18.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its earnings results on Tuesday, February 19th. The medical research company reported ($0.41) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.41). Accelerate Diagnostics had a negative return on equity of 105.12% and a negative net margin of 1,564.01%. The firm had revenue of $1.80 million for the quarter, compared to analysts’ expectations of $1.83 million. As a group, equities analysts predict that Accelerate Diagnostics will post -1.76 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc boosted its holdings in Accelerate Diagnostics by 45.2% during the fourth quarter. Legal & General Group Plc now owns 5,995 shares of the medical research company’s stock worth $69,000 after buying an additional 1,866 shares during the last quarter. Bank of America Corp DE boosted its holdings in Accelerate Diagnostics by 15.9% during the fourth quarter. Bank of America Corp DE now owns 28,477 shares of the medical research company’s stock worth $327,000 after buying an additional 3,907 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Accelerate Diagnostics by 82.2% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 13,556 shares of the medical research company’s stock worth $159,000 after buying an additional 6,114 shares during the last quarter. MetLife Investment Advisors LLC boosted its holdings in Accelerate Diagnostics by 59.1% during the third quarter. MetLife Investment Advisors LLC now owns 18,052 shares of the medical research company’s stock worth $414,000 after buying an additional 6,704 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in shares of Accelerate Diagnostics by 331.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,727 shares of the medical research company’s stock valued at $100,000 after purchasing an additional 6,704 shares in the last quarter. Hedge funds and other institutional investors own 50.06% of the company’s stock.

About Accelerate Diagnostics

Accelerate Diagnostics, Inc, an in vitro diagnostics company, provides solutions for the diagnosis of serious infections in the United States. It 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, as well as yeast.

Featured Story: Why is the Consumer Price Index (CPI) important?

Receive News & Ratings for Accelerate Diagnostics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accelerate Diagnostics and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply