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

Analysts at StockNews.com initiated coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a report released on Monday. The firm set a “hold” rating on the medical research company’s stock.

Several other research analysts also recently weighed in on the stock. William Blair reissued an “outperform” rating on shares of Accelerate Diagnostics in a research report on Tuesday, April 2nd. Craig Hallum lowered their price objective 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.

Accelerate Diagnostics Price Performance

Accelerate Diagnostics stock opened at $0.90 on Monday. The firm’s 50 day simple moving average is $0.95 and its 200-day simple moving average is $2.67. The company has a market cap of $19.49 million, a P/E ratio of -0.18 and a beta of 0.53. Accelerate Diagnostics has a fifty-two week low of $0.73 and a fifty-two week high of $11.90.

Accelerate Diagnostics (NASDAQ:AXDX) last released its earnings results on Thursday, March 28th. The medical research company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.27). The firm had revenue of $3.03 million for the quarter, compared to analyst estimates of $3.80 million. On average, analysts expect that Accelerate Diagnostics will post -2.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AXDX. TCI Wealth Advisors Inc. purchased a new position in Accelerate Diagnostics during the third quarter valued at approximately $337,000. Sonora Investment Management Group LLC purchased a new position in Accelerate Diagnostics during the third quarter valued at approximately $63,000. Tejara Capital Ltd acquired a new stake in Accelerate Diagnostics in the third quarter valued at approximately $78,000. Finally, Griffin Asset Management Inc. lifted its stake in 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 during the last quarter. 17.14% of the stock is owned by hedge funds and other institutional investors.

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. 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.