StockNews.com Initiates Coverage on Accelerate Diagnostics (NASDAQ:AXDX)

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

Other equities analysts also recently issued reports about the company. William Blair reiterated an “outperform” rating on shares of Accelerate Diagnostics in a research report on Tuesday, April 2nd. Craig Hallum cut their price objective on shares of Accelerate Diagnostics from $2.00 to $1.00 and set a “hold” rating on the stock in a report on Monday, April 1st.

Accelerate Diagnostics Price Performance

NASDAQ:AXDX opened at $0.92 on Friday. The firm has a market cap of $19.99 million, a PE ratio of -0.19 and a beta of 0.52. The firm has a 50 day simple moving average of $0.96 and a 200-day simple moving average of $2.88. Accelerate Diagnostics has a 1-year low of $0.73 and a 1-year high of $11.90.

Accelerate Diagnostics (NASDAQ:AXDX) last released its earnings results on Thursday, March 28th. The medical research company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.27). The business had revenue of $3.03 million for the quarter, compared to analysts’ expectations of $3.80 million. As a group, sell-side analysts expect that Accelerate Diagnostics will post -2.27 earnings per share for the current fiscal year.

Institutional Trading of Accelerate Diagnostics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Sonora Investment Management Group LLC acquired a new position in Accelerate Diagnostics in the third quarter valued at $63,000. Tejara Capital Ltd purchased a new position in Accelerate Diagnostics in the third quarter valued at approximately $78,000. Griffin Asset Management Inc. lifted its position in Accelerate Diagnostics by 3.0% during the fourth quarter. Griffin Asset Management Inc. now owns 1,219,724 shares of the medical research company’s stock valued at $4,781,000 after buying an additional 35,146 shares in the last quarter. Finally, TCI Wealth Advisors Inc. purchased a new stake in Accelerate Diagnostics during the third quarter worth approximately $337,000. 17.14% of the stock is currently owned by institutional investors and hedge funds.

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.