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

StockNews.com assumed coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research note published on Thursday. The brokerage issued a hold rating on the medical research company’s stock.

AXDX has been the subject of a number of other research reports. Craig Hallum reduced their price objective on Accelerate Diagnostics from $2.00 to $1.00 and set a hold rating for the company in a report on Monday, April 1st. William Blair restated an outperform rating on shares of Accelerate Diagnostics in a report on Tuesday, April 2nd.

Accelerate Diagnostics Trading Up 5.7 %

Shares of Accelerate Diagnostics stock opened at $1.30 on Thursday. The stock’s fifty day simple moving average is $1.21 and its 200 day simple moving average is $1.17. Accelerate Diagnostics has a 12 month low of $0.73 and a 12 month high of $7.58. The company has a market capitalization of $28.67 million, a PE ratio of -0.32 and a beta of 0.57.

Accelerate Diagnostics (NASDAQ:AXDX) last issued 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 firm had revenue of $2.92 million during the quarter, compared to the consensus estimate of $3.00 million. Analysts predict that Accelerate Diagnostics will post -2.37 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. increased its holdings in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,219,724 shares of the medical research company’s stock after buying an additional 35,146 shares during the period. Griffin Asset Management Inc. owned 8.38% of Accelerate Diagnostics worth $4,781,000 as of its most recent filing with the Securities and Exchange Commission. 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.