Accolade (NASDAQ:ACCD) Rating Lowered to Hold at Leerink Partnrs

Leerink Partnrs cut shares of Accolade (NASDAQ:ACCD) from a strong-buy rating to a hold rating in a report published on Wednesday morning,Zacks.com reports.

A number of other equities analysts have also recently commented on the stock. Canaccord Genuity Group reiterated a “hold” rating on shares of Accolade in a research report on Wednesday. Stephens decreased their target price on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Wells Fargo & Company decreased their target price on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, October 11th. Raymond James reiterated a “market perform” rating on shares of Accolade in a research report on Thursday. Finally, Leerink Partners reiterated a “market perform” rating on shares of Accolade in a research report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.55.

Accolade Stock Down 0.4 %

Shares of NASDAQ:ACCD opened at $6.83 on Wednesday. The firm has a fifty day moving average price of $3.73 and a two-hundred day moving average price of $3.84. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.72 and a quick ratio of 2.72. Accolade has a one year low of $3.08 and a one year high of $15.21. The company has a market cap of $550.07 million, a price-to-earnings ratio of -6.63 and a beta of 2.08.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings data on Friday, January 10th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.01. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. Analysts anticipate that Accolade will post -0.92 EPS for the current fiscal year.

Insider Transactions at Accolade

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total transaction of $48,085.20. Following the completion of the sale, the chief executive officer now directly owns 814,316 shares of the company’s stock, valued at approximately $2,931,537.60. This represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 40,881 shares of company stock worth $144,987. Corporate insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On Accolade

A number of hedge funds have recently modified their holdings of the company. Whetstone Capital Advisors LLC bought a new position in shares of Accolade during the third quarter worth $3,842,000. Clearline Capital LP bought a new position in shares of Accolade during the second quarter worth $2,974,000. Cubist Systematic Strategies LLC boosted its position in shares of Accolade by 273.4% during the second quarter. Cubist Systematic Strategies LLC now owns 260,040 shares of the company’s stock worth $931,000 after acquiring an additional 190,396 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Accolade during the second quarter worth $1,229,000. Finally, Johnson Financial Group LLC bought a new position in shares of Accolade during the third quarter worth $1,642,000. 84.99% of the stock is currently owned by institutional investors.

About Accolade

Accolade, Inc, together with its subsidiaries, engages in the development and provision of personalized and technology-enabled solutions that help people to understand, navigate, and utilize the healthcare system and their workplace benefits in the United States. The company offers a platform with cloud-based intelligent technology and multimodal support from a team of advocates and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women’s health specialists, case management specialists, expert medical opinion providers, and primary care physicians.