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

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

AXDX has been the topic of several other research reports. William Blair reissued an “outperform” rating on shares of Accelerate Diagnostics in a research note on Tuesday, April 2nd. Craig Hallum lowered their price target on shares of Accelerate Diagnostics from $2.00 to $1.00 and set a “hold” rating for the company in a report on Monday, April 1st.

Accelerate Diagnostics Stock Performance

Shares of AXDX opened at $1.17 on Monday. Accelerate Diagnostics has a one year low of $0.73 and a one year high of $8.72. The stock has a market capitalization of $25.80 million, a price-to-earnings ratio of -0.29 and a beta of 0.65. The stock has a 50 day moving average price of $1.11 and a 200 day moving average price of $1.59.

Accelerate Diagnostics (NASDAQ:AXDX) last announced its quarterly earnings data on Wednesday, May 8th. The medical research company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.16). The company had revenue of $2.92 million for the quarter, compared to analysts’ expectations of $3.00 million. On average, analysts predict that Accelerate Diagnostics will post -2.37 earnings per share for the current year.

Hedge Funds Weigh In On Accelerate Diagnostics

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. boosted its holdings in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 11.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,354,254 shares of the medical research company’s stock after acquiring an additional 134,530 shares during the quarter. Griffin Asset Management Inc. owned about 6.25% of Accelerate Diagnostics worth $1,341,000 as of its most recent filing with the SEC. 17.14% of the stock is currently 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, 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.