Accelerate Diagnostics Inc. (AXDX) Upgraded by Zacks Investment Research to “Hold”
According to Zacks, “Accelerate Diagnostics, Inc. is focused on developing and commercializing instrumentation for the rapid identification and antibiotic susceptibility testing of infectious pathogens. The company is developing BACcel(TM) system, a rapid diagnostic platform for diagnosis in life-threatening bacterial infections and OptiChem(R) surface coatings for use in micro arraying components. Accelerate Diagnostics Inc., formerly known as Accelr8 Technology Corp., is based in Denver, Colorado. “
Several other brokerages have also weighed in on AXDX. BTIG Research reissued a buy rating and issued a $26.00 price objective on shares of Accelerate Diagnostics in a report on Wednesday, June 15th. JPMorgan Chase & Co. raised their target price on Accelerate Diagnostics from $17.00 to $25.00 and gave the stock an overweight rating in a research note on Tuesday, August 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $25.33.
Accelerate Diagnostics (NASDAQ:AXDX) traded down 2.74% on Monday, hitting $26.65. The stock had a trading volume of 25,122 shares. The company has a 50-day moving average price of $25.19 and a 200-day moving average price of $18.05. Accelerate Diagnostics has a 1-year low of $10.29 and a 1-year high of $28.50. The stock’s market capitalization is $1.37 billion.
Hedge funds have recently added to or reduced their stakes in the company. Geneva Advisors LLC increased its stake in Accelerate Diagnostics by 3.6% in the second quarter. Geneva Advisors LLC now owns 27,180 shares of the company’s stock worth $391,000 after buying an additional 934 shares during the last quarter. Oaktop Capital Management II L.P. purchased a new stake in Accelerate Diagnostics during the second quarter worth $1,799,000. Swiss National Bank increased its stake in Accelerate Diagnostics by 2.7% in the second quarter. Swiss National Bank now owns 54,100 shares of the company’s stock worth $778,000 after buying an additional 1,400 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Accelerate Diagnostics during the first quarter worth $1,019,000. Finally, Metropolitan Life Insurance Co. NY increased its stake in Accelerate Diagnostics by 2.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 17,271 shares of the company’s stock worth $248,000 after buying an additional 437 shares during the last quarter. Institutional investors own 35.62% of the company’s stock.
About Accelerate Diagnostics
Accelerate Diagnostics, Inc is an in vitro diagnostics company engaged in providing solutions that improve patient outcomes and lower healthcare costs through the diagnosis of serious infections. The Company’s technology platform is built to address these challenges by delivering testing of infectious pathogens in various patient sample types.
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