Zacks Investment Research Downgrades Accelerate Diagnostics Inc. (AXDX) to Hold
Accelerate Diagnostics Inc. (NASDAQ:AXDX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
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. “
AXDX has been the topic of a number of other reports. BTIG Research upgraded Accelerate Diagnostics from a “neutral” rating to a “buy” rating in a research report on Thursday, August 25th. JPMorgan Chase & Co. increased their price objective on Accelerate Diagnostics from $17.00 to $25.00 and gave the company an “overweight” rating in a research report on Tuesday, August 9th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $26.25.
Accelerate Diagnostics (NASDAQ:AXDX) opened at 24.95 on Tuesday. The company’s 50-day moving average price is $23.99 and its 200 day moving average price is $20.70. Accelerate Diagnostics has a 52-week low of $10.29 and a 52-week high of $28.50. The firm’s market capitalization is $1.28 billion.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. Geneva Advisors LLC raised its position in Accelerate Diagnostics by 3.6% in the second quarter. Geneva Advisors LLC now owns 27,180 shares of the company’s stock valued at $391,000 after buying an additional 934 shares in the last quarter. Swiss National Bank raised its position in Accelerate Diagnostics by 2.7% in the second quarter. Swiss National Bank now owns 54,100 shares of the company’s stock valued at $778,000 after buying an additional 1,400 shares in the last quarter. Oaktop Capital Management II L.P. bought a new position in Accelerate Diagnostics during the second quarter valued at about $1,799,000. Chartist Inc. CA bought a new position in Accelerate Diagnostics during the second quarter valued at about $899,000. Finally, Blair William & Co. IL raised its position in Accelerate Diagnostics by 243.4% in the second quarter. Blair William & Co. IL now owns 268,704 shares of the company’s stock valued at $3,867,000 after buying an additional 190,459 shares in the last quarter. Institutional investors and hedge funds own 37.22% 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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