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

StockNews.com assumed coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research report report published on Sunday morning. The brokerage issued a hold rating on the medical research company’s stock.

A number of other equities analysts have also weighed in on the company. Craig Hallum reduced their price objective on Accelerate Diagnostics from $2.00 to $1.00 and set a hold rating for the company in a research note on Monday, April 1st. William Blair reiterated an outperform rating on shares of Accelerate Diagnostics in a research note on Tuesday, April 2nd.

Accelerate Diagnostics Price Performance

Accelerate Diagnostics stock opened at $0.93 on Friday. The stock has a market capitalization of $20.15 million, a price-to-earnings ratio of -0.19 and a beta of 0.52. Accelerate Diagnostics has a 1-year low of $0.73 and a 1-year high of $11.90. The business has a fifty day moving average price of $0.96 and a 200-day moving average price of $2.92.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings data on Thursday, March 28th. The medical research company reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.27). The firm had revenue of $3.03 million during the quarter, compared to analysts’ expectations of $3.80 million. On average, equities research analysts anticipate that Accelerate Diagnostics will post -2.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Accelerate Diagnostics

Several institutional investors and hedge funds have recently modified their holdings of the business. Griffin Asset Management Inc. increased its stake in Accelerate Diagnostics by 11.0% during the 1st quarter. Griffin Asset Management Inc. now owns 1,354,254 shares of the medical research company’s stock worth $1,341,000 after buying an additional 134,530 shares in the last quarter. TCI Wealth Advisors Inc. acquired a new position in shares of Accelerate Diagnostics during the 3rd quarter worth approximately $337,000. Tejara Capital Ltd acquired a new position in shares of Accelerate Diagnostics during the 3rd quarter worth approximately $78,000. Finally, Sonora Investment Management Group LLC acquired a new position in shares of Accelerate Diagnostics during the 3rd quarter worth approximately $63,000. Hedge funds and other institutional investors own 17.14% of the company’s stock.

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.