Accelerate Diagnostics, Inc. (NASDAQ:AXDX) Rating Reiterated by BTIG Research
Accelerate Diagnostics, Inc. (NASDAQ:AXDX)‘s stock had its “buy” rating reaffirmed by equities researchers at BTIG Research in a report released on Wednesday, July 12th, Marketbeat reports. They presently have a $34.00 target price on the medical research company’s stock. BTIG Research’s target price suggests a potential upside of 35.19% from the stock’s previous close.
Several other research firms have also weighed in on AXDX. BidaskClub upgraded Accelerate Diagnostics from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Zacks Investment Research upgraded Accelerate Diagnostics from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a report on Monday, May 8th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $32.00 price target (up from $30.00) on shares of Accelerate Diagnostics in a report on Monday, June 5th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $31.00.
Shares of Accelerate Diagnostics (NASDAQ AXDX) opened at 25.15 on Wednesday. The firm’s market cap is $1.31 billion. The stock has a 50 day moving average of $27.81 and a 200-day moving average of $25.73. Accelerate Diagnostics has a 1-year low of $19.20 and a 1-year high of $30.45.
Accelerate Diagnostics (NASDAQ:AXDX) last posted its earnings results on Thursday, August 3rd. The medical research company reported ($0.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by $0.01. Accelerate Diagnostics had a negative return on equity of 80.75% and a negative net margin of 5,062.48%. The company had revenue of $0.70 million during the quarter, compared to analyst estimates of $1.40 million. Equities analysts anticipate that Accelerate Diagnostics will post ($1.18) EPS for the current fiscal year.
In other news, insider Steven Reichling sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $28.90, for a total transaction of $867,000.00. Following the sale, the insider now directly owns 30,700 shares in the company, valued at $887,230. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 51.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its stake in Accelerate Diagnostics by 0.3% in the first quarter. Legal & General Group Plc now owns 5,123 shares of the medical research company’s stock worth $123,000 after buying an additional 15 shares in the last quarter. Geneva Advisors LLC boosted its stake in Accelerate Diagnostics by 0.5% in the second quarter. Geneva Advisors LLC now owns 48,899 shares of the medical research company’s stock worth $1,337,000 after buying an additional 238 shares in the last quarter. Obermeyer Wood Investment Counsel Lllp boosted its stake in Accelerate Diagnostics by 0.3% in the second quarter. Obermeyer Wood Investment Counsel Lllp now owns 213,367 shares of the medical research company’s stock worth $5,836,000 after buying an additional 660 shares in the last quarter. SG Americas Securities LLC boosted its stake in Accelerate Diagnostics by 16.8% in the first quarter. SG Americas Securities LLC now owns 5,885 shares of the medical research company’s stock worth $142,000 after buying an additional 846 shares in the last quarter. Finally, American International Group Inc. boosted its stake in Accelerate Diagnostics by 7.1% in the first quarter. American International Group Inc. now owns 14,187 shares of the medical research company’s stock worth $343,000 after buying an additional 939 shares in the last quarter. Institutional investors and hedge funds own 38.54% of the company’s stock.
Accelerate Diagnostics Company Profile
Accelerate Diagnostics, Inc is an in vitro diagnostics company engaged in providing solutions that develop patient outcomes through the diagnosis of serious infections. The Company’s in vitro diagnostic platform, the Accelerate Pheno system utilizes genotypic technology to identify (ID), infectious pathogens and phenotypic technology to conduct antibiotic susceptibility testing (AST), which determines whether live bacterial or fungal cells are resistant or susceptible to a particular antibiotic.
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