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

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

Several other equities research analysts have also recently weighed in on the company. William Blair restated an outperform rating on shares of Accelerate Diagnostics in a report on Tuesday, April 2nd. Craig Hallum dropped their target price on 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 Trading Up 2.6 %

AXDX opened at $1.18 on Monday. The stock has a 50-day moving average price of $1.12 and a 200-day moving average price of $1.54. Accelerate Diagnostics has a 12-month low of $0.73 and a 12-month high of $8.72. The stock has a market capitalization of $26.02 million, a P/E ratio of -0.29 and a beta of 0.57.

Accelerate Diagnostics (NASDAQ:AXDX) last posted 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 analysts’ expectations of $3.00 million. On average, equities research analysts predict that Accelerate Diagnostics will post -2.37 EPS for the current year.

Institutional Investors Weigh In On Accelerate Diagnostics

A hedge fund recently bought a new stake in Accelerate Diagnostics stock. Tejara Capital Ltd acquired a new position in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 13,614 shares of the medical research company’s stock, valued at approximately $78,000. Tejara Capital Ltd owned 0.09% of Accelerate Diagnostics as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 17.14% of the company’s stock.

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.