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

StockNews.com began coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research report sent to investors on Thursday morning. The firm issued a hold rating on the medical research company’s stock.

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

Accelerate Diagnostics Stock Performance

Shares of AXDX stock opened at $1.30 on Thursday. The stock’s fifty day moving average is $1.21 and its two-hundred day moving average is $1.17. The firm has a market capitalization of $28.67 million, a P/E ratio of -0.32 and a beta of 0.57. Accelerate Diagnostics has a fifty-two week low of $0.73 and a fifty-two week high of $7.58.

Accelerate Diagnostics (NASDAQ:AXDX) last announced its quarterly earnings data on Wednesday, May 8th. The medical research company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.16). The business had revenue of $2.92 million during the quarter, compared to the consensus estimate of $3.00 million. On average, equities analysts forecast that Accelerate Diagnostics will post -2.37 earnings per share for the current year.

Hedge Funds Weigh In On Accelerate Diagnostics

An institutional investor recently raised its position in Accelerate Diagnostics stock. Griffin Asset Management Inc. grew its stake in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 1.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,380,654 shares of the medical research company’s stock after buying an additional 26,400 shares during the quarter. Griffin Asset Management Inc. owned 6.26% of Accelerate Diagnostics worth $1,615,000 as of its most recent filing with the SEC. 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.