Accelerate Diagnostics (NASDAQ:AXDX) Now Covered by StockNews.com

Equities research analysts at StockNews.com started coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a report released on Monday. The firm set a “hold” rating on the medical research company’s stock.

A number of other research firms have also recently weighed in on AXDX. William Blair reissued an “outperform” rating on shares of Accelerate Diagnostics in a report on Tuesday, April 2nd. Craig Hallum dropped their target price on Accelerate Diagnostics from $2.00 to $1.00 and set a “hold” rating for the company in a research note on Monday, April 1st.

Accelerate Diagnostics Stock Down 2.2 %

NASDAQ AXDX opened at $0.90 on Monday. Accelerate Diagnostics has a fifty-two week low of $0.73 and a fifty-two week high of $11.90. The stock has a market cap of $19.49 million, a price-to-earnings ratio of -0.18 and a beta of 0.53. The business has a fifty day moving average of $0.95 and a 200-day moving average of $2.67.

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

Hedge Funds Weigh In On Accelerate Diagnostics

Several institutional investors have recently added to or reduced their stakes in the business. Sonora Investment Management Group LLC acquired a new position in Accelerate Diagnostics in the third quarter valued at $63,000. Tejara Capital Ltd acquired a new stake in Accelerate Diagnostics during the third quarter worth about $78,000. Griffin Asset Management Inc. increased its stake 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 worth $4,781,000 after acquiring an additional 35,146 shares during the last quarter. Finally, TCI Wealth Advisors Inc. acquired a new stake in Accelerate Diagnostics during the third quarter worth about $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.