Accelerate Diagnostics (NASDAQ:AXDX) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Accelerate Diagnostics (NASDAQ:AXDX) issued its quarterly earnings data on Thursday. The medical research company reported ($0.38) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.02, Bloomberg Earnings reports. Accelerate Diagnostics had a negative return on equity of 130.94% and a negative net margin of 1,352.80%. The firm had revenue of $1.81 million during the quarter, compared to the consensus estimate of $2.71 million.

Shares of NASDAQ:AXDX traded up $0.69 during midday trading on Friday, hitting $17.31. 519,568 shares of the company’s stock traded hands, compared to its average volume of 259,010. The company has a current ratio of 25.36, a quick ratio of 24.03 and a debt-to-equity ratio of 2.86. The firm has a market capitalization of $926.36 million, a P/E ratio of -10.69 and a beta of 2.75. The firm has a fifty day moving average price of $19.93. Accelerate Diagnostics has a twelve month low of $10.23 and a twelve month high of $24.75.

AXDX has been the subject of several recent analyst reports. BidaskClub cut shares of Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research note on Saturday, July 13th. Piper Jaffray Companies lowered their price objective on shares of Accelerate Diagnostics from $22.00 to $19.00 and set a “positive” rating for the company in a research note on Friday. BTIG Research reissued a “hold” rating on shares of Accelerate Diagnostics in a research note on Sunday, May 12th. ValuEngine cut shares of Accelerate Diagnostics from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, Zacks Investment Research cut shares of Accelerate Diagnostics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $18.67.

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. 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.

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Earnings History for Accelerate Diagnostics (NASDAQ:AXDX)

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