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

StockNews.com initiated coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a report issued on Wednesday morning. The firm issued a hold rating on the medical research company’s stock.

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

Accelerate Diagnostics Stock Up 8.2 %

AXDX opened at $1.38 on Wednesday. Accelerate Diagnostics has a twelve month low of $0.73 and a twelve month high of $11.90. The company has a fifty day moving average of $0.93 and a 200-day moving average of $2.27. The stock has a market cap of $30.43 million, a PE ratio of -0.34 and a beta of 0.53.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings results on Thursday, March 28th. The medical research company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.27). The business had revenue of $3.03 million for the quarter, compared to analyst estimates of $3.80 million. Sell-side analysts anticipate that Accelerate Diagnostics will post -2.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. lifted its position in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 11.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,354,254 shares of the medical research company’s stock after purchasing an additional 134,530 shares during the period. Griffin Asset Management Inc. owned 6.25% of Accelerate Diagnostics worth $1,341,000 at the end of the most recent quarter. 17.14% of the stock is currently owned by hedge funds and other institutional investors.

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.