Accelerate Diagnostics (NASDAQ:AXDX) Downgraded by ValuEngine to Hold

ValuEngine lowered shares of Accelerate Diagnostics (NASDAQ:AXDX) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, ValuEngine reports.

Several other research analysts also recently issued reports on the company. Zacks Investment Research downgraded Accelerate Diagnostics from a buy rating to a hold rating in a research note on Wednesday, July 10th. BidaskClub raised Accelerate Diagnostics from a sell rating to a hold rating in a research note on Wednesday, August 14th. Finally, Piper Jaffray Companies lowered their price objective on Accelerate Diagnostics from $22.00 to $19.00 and set a positive rating for the company in a research note on Friday, August 9th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Accelerate Diagnostics currently has an average rating of Hold and a consensus price target of $18.67.

AXDX stock opened at $21.39 on Tuesday. The stock has a market capitalization of $1.17 billion, a P/E ratio of -13.20 and a beta of 2.72. The company has a current ratio of 19.99, a quick ratio of 18.89 and a debt-to-equity ratio of 4.81. Accelerate Diagnostics has a 12 month low of $10.23 and a 12 month high of $24.00. The firm has a 50-day moving average price of $18.58 and a 200-day moving average price of $19.55.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its earnings results on Thursday, August 8th. The medical research company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.02. The firm had revenue of $1.81 million during the quarter, compared to analysts’ expectations of $2.71 million. Accelerate Diagnostics had a negative net margin of 1,293.91% and a negative return on equity of 170.47%. As a group, equities analysts predict that Accelerate Diagnostics will post -1.58 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new position in shares of Accelerate Diagnostics in the second quarter valued at approximately $27,000. SRS Capital Advisors Inc. acquired a new position in shares of Accelerate Diagnostics in the second quarter valued at approximately $114,000. SG Americas Securities LLC acquired a new position in shares of Accelerate Diagnostics in the second quarter valued at approximately $132,000. Aperio Group LLC acquired a new position in shares of Accelerate Diagnostics in the second quarter valued at approximately $143,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Accelerate Diagnostics by 30,942.9% in the first quarter. BNP Paribas Arbitrage SA now owns 6,519 shares of the medical research company’s stock valued at $137,000 after buying an additional 6,498 shares during the period. 54.02% of the stock is owned by institutional investors.

About Accelerate Diagnostics

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.

Further Reading: How Does the Quiet Period Work?

To view ValuEngine’s full report, visit ValuEngine’s official website.

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.