Zacks Investment Research upgraded shares of Accelerate Diagnostics (NASDAQ:AXDX) from a hold rating to a buy rating in a research report report published on Monday morning. The firm currently has $16.00 target price on the medical research company’s stock.

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. “

Other analysts also recently issued reports about the company. Piper Jaffray Companies reiterated a buy rating and set a $24.00 target price on shares of Accelerate Diagnostics in a research report on Tuesday, August 7th. BidaskClub upgraded Accelerate Diagnostics from a strong sell rating to a sell rating in a research report on Saturday, November 3rd. Finally, JPMorgan Chase & Co. cut Accelerate Diagnostics from an overweight rating to a neutral rating and lowered their price target for the stock from $25.00 to $16.00 in a report on Wednesday, November 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $20.25.

NASDAQ:AXDX opened at $14.21 on Monday. The firm has a market cap of $785.34 million, a PE ratio of -12.25 and a beta of 2.49. The company has a quick ratio of 33.54, a current ratio of 35.26 and a debt-to-equity ratio of 1.52. Accelerate Diagnostics has a fifty-two week low of $13.25 and a fifty-two week high of $30.35.

Accelerate Diagnostics (NASDAQ:AXDX) last released its earnings results on Tuesday, November 6th. The medical research company reported ($0.41) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.41). The firm had revenue of $1.36 million during the quarter, compared to the consensus estimate of $2.89 million. Accelerate Diagnostics had a negative return on equity of 81.76% and a negative net margin of 1,365.75%. On average, research analysts expect that Accelerate Diagnostics will post -1.61 earnings per share for the current year.

In other Accelerate Diagnostics news, Director John Patience purchased 10,000 shares of the stock in a transaction dated Thursday, November 8th. The stock was bought at an average price of $14.96 per share, with a total value of $149,600.00. Following the acquisition, the director now owns 44,670 shares of the company’s stock, valued at $668,263.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 49.30% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the company. Chicago Capital LLC increased its holdings in Accelerate Diagnostics by 86.5% in the 2nd quarter. Chicago Capital LLC now owns 538,191 shares of the medical research company’s stock worth $12,002,000 after purchasing an additional 249,655 shares in the last quarter. FMR LLC increased its holdings in Accelerate Diagnostics by 97.8% in the 2nd quarter. FMR LLC now owns 486,500 shares of the medical research company’s stock worth $10,849,000 after purchasing an additional 240,600 shares in the last quarter. Blair William & Co. IL increased its holdings in Accelerate Diagnostics by 36.2% in the 3rd quarter. Blair William & Co. IL now owns 878,655 shares of the medical research company’s stock worth $20,165,000 after purchasing an additional 233,408 shares in the last quarter. C WorldWide Group Holding A S acquired a new position in Accelerate Diagnostics in the 2nd quarter worth about $4,110,000. Finally, Credit Suisse AG increased its holdings in Accelerate Diagnostics by 5.0% in the 3rd quarter. Credit Suisse AG now owns 3,653,892 shares of the medical research company’s stock worth $83,856,000 after purchasing an additional 173,289 shares in the last quarter. 45.33% of the stock is owned by institutional investors.

Accelerate Diagnostics Company Profile

Accelerate Diagnostics, Inc, an in vitro diagnostics company, provides solutions for the diagnosis of serious infections in the United States. It 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, as well as yeast.

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