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

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

Accelerate Diagnostics Price Performance

NASDAQ:AXDX opened at $1.47 on Thursday. The firm has a market capitalization of $32.41 million, a P/E ratio of -0.36 and a beta of 0.62. The business has a 50 day simple moving average of $1.51 and a 200 day simple moving average of $1.22. Accelerate Diagnostics has a 12-month low of $0.73 and a 12-month high of $7.00.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its earnings results on Thursday, August 8th. The medical research company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.05. The company had revenue of $2.99 million during the quarter, compared to the consensus estimate of $3.00 million. Research analysts anticipate that Accelerate Diagnostics will post -2.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Accelerate Diagnostics

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. lifted its holdings in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 11.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,354,254 shares of the medical research company’s stock after buying an additional 134,530 shares during the period. Griffin Asset Management Inc. owned approximately 6.25% of Accelerate Diagnostics worth $1,341,000 at the end of the most recent reporting period. Institutional investors own 17.14% of the company’s stock.

Accelerate Diagnostics Company Profile

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.