Brokerages Set Accelerate Diagnostics Inc (NASDAQ:AXDX) Target Price at $19.00

Accelerate Diagnostics Inc (NASDAQ:AXDX) has been assigned a consensus recommendation of “Hold” from the six research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $19.00.

A number of research firms have weighed in on AXDX. Piper Sandler increased their price objective on Accelerate Diagnostics from $14.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Craig Hallum upgraded Accelerate Diagnostics from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Friday, August 7th. BTIG Research began coverage on shares of Accelerate Diagnostics in a research report on Wednesday, October 7th. They issued a “neutral” rating on the stock. Zacks Investment Research cut shares of Accelerate Diagnostics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Finally, BidaskClub upgraded shares of Accelerate Diagnostics from a “strong sell” rating to a “sell” rating in a research note on Thursday.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Chicago Capital LLC boosted its stake in shares of Accelerate Diagnostics by 160.3% in the third quarter. Chicago Capital LLC now owns 1,966,891 shares of the medical research company’s stock valued at $20,967,000 after buying an additional 1,211,408 shares in the last quarter. Griffin Asset Management Inc. boosted its position in shares of Accelerate Diagnostics by 39.8% during the 1st quarter. Griffin Asset Management Inc. now owns 1,390,227 shares of the medical research company’s stock worth $11,581,000 after purchasing an additional 395,570 shares in the last quarter. FMR LLC grew its stake in shares of Accelerate Diagnostics by 16.1% during the 1st quarter. FMR LLC now owns 857,069 shares of the medical research company’s stock worth $18,016,000 after purchasing an additional 118,620 shares during the period. Two Sigma Investments LP grew its stake in shares of Accelerate Diagnostics by 180.7% during the 1st quarter. Two Sigma Investments LP now owns 148,055 shares of the medical research company’s stock worth $1,233,000 after purchasing an additional 95,318 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Accelerate Diagnostics by 5.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,506,736 shares of the medical research company’s stock valued at $22,842,000 after purchasing an additional 78,564 shares in the last quarter. 51.50% of the stock is owned by institutional investors and hedge funds.

Shares of Accelerate Diagnostics stock opened at $11.62 on Thursday. The company has a market capitalization of $654.85 million, a P/E ratio of -7.75 and a beta of 2.54. Accelerate Diagnostics has a 1 year low of $4.53 and a 1 year high of $19.11. The company’s fifty day moving average is $11.12 and its two-hundred day moving average is $11.72.

Accelerate Diagnostics (NASDAQ:AXDX) last announced its earnings results on Thursday, August 6th. The medical research company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.01). Accelerate Diagnostics had a negative return on equity of 5,681.44% and a negative net margin of 803.60%. The business had revenue of $2.13 million for the quarter, compared to analyst estimates of $2.47 million. As a group, sell-side analysts anticipate that Accelerate Diagnostics will post -1.4 earnings per share for the current year.

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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