Accelerate Diagnostics (NASDAQ:AXDX) Earns Hold Rating from Analysts at StockNews.com

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

Accelerate Diagnostics Price Performance

Shares of NASDAQ:AXDX opened at $1.95 on Friday. The company has a market capitalization of $43.00 million, a price-to-earnings ratio of -0.48 and a beta of 0.61. The firm’s 50 day simple moving average is $1.64 and its 200 day simple moving average is $1.27. Accelerate Diagnostics has a fifty-two week low of $0.73 and a fifty-two week high of $7.00.

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

Hedge Funds Weigh In On Accelerate Diagnostics

An institutional investor recently raised its position in Accelerate Diagnostics stock. Griffin Asset Management Inc. boosted its stake in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 11.0% during the 1st quarter, according to its most recent 13F filing with the SEC. 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 as of its most recent filing with the SEC. Institutional investors and hedge funds 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.