Accelerate Diagnostics (NASDAQ:AXDX) Earns Hold Rating from Analysts at StockNews.com

Equities researchers at StockNews.com started coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a report issued on Friday. The brokerage set a “hold” rating on the medical research company’s stock.

Accelerate Diagnostics Price Performance

Accelerate Diagnostics stock opened at $1.76 on Friday. The stock’s 50 day moving average is $1.58 and its 200 day moving average is $1.24. Accelerate Diagnostics has a one year low of $0.73 and a one year high of $7.00. The firm has a market cap of $38.81 million, a P/E ratio of -0.43 and a beta of 0.62.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its quarterly earnings results on Thursday, August 8th. The medical research company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.05. The firm had revenue of $2.99 million during the quarter, compared to analyst estimates of $3.00 million. Equities analysts anticipate that Accelerate Diagnostics will post -2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. lifted its holdings in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,380,654 shares of the medical research company’s stock after purchasing an additional 26,400 shares during the period. Griffin Asset Management Inc. owned 6.26% of Accelerate Diagnostics worth $1,615,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 17.14% of the company’s stock.

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. 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.