Accelerate Diagnostics Inc. (AXDX) Lifted to Hold at Zacks Investment Research
Accelerate Diagnostics Inc. (NASDAQ:AXDX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.
According to Zacks, “Accelerate Diagnostics, Inc. is focused on developing and commercializing instrumentation for the rapid identification and antibiotic susceptibility testing of infectious pathogens. The company is developing BACcel(TM) system, a rapid diagnostic platform for diagnosis in life-threatening bacterial infections and OptiChem(R) surface coatings for use in micro arraying components. Accelerate Diagnostics Inc., formerly known as Accelr8 Technology Corp., is based in Denver, Colorado. “
A number of other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Accelerate Diagnostics from $17.00 to $25.00 and gave the company an “overweight” rating in a research note on Tuesday, August 9th. BTIG Research upgraded Accelerate Diagnostics from a “neutral” rating to a “buy” rating in a report on Thursday, August 25th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Accelerate Diagnostics presently has an average rating of “Buy” and a consensus target price of $25.33.
Shares of Accelerate Diagnostics (NASDAQ:AXDX) traded up 1.67% on Monday, hitting $27.40. The stock had a trading volume of 121,870 shares. The company’s market cap is $1.40 billion. Accelerate Diagnostics has a 12-month low of $10.29 and a 12-month high of $28.50. The stock has a 50 day moving average price of $25.06 and a 200-day moving average price of $17.87.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Independence Advisors LLC acquired a new stake in shares of Accelerate Diagnostics during the third quarter worth about $354,000. HighTower Advisors LLC acquired a new stake in shares of Accelerate Diagnostics during the second quarter worth about $188,000. American International Group Inc. increased its stake in shares of Accelerate Diagnostics by 5.3% in the second quarter. American International Group Inc. now owns 13,263 shares of the company’s stock worth $191,000 after buying an additional 663 shares during the period. State Board of Administration of Florida Retirement System increased its stake in shares of Accelerate Diagnostics by 11.0% in the second quarter. State Board of Administration of Florida Retirement System now owns 15,898 shares of the company’s stock worth $229,000 after buying an additional 1,580 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Accelerate Diagnostics by 25,550.8% in the second quarter. JPMorgan Chase & Co. now owns 16,673 shares of the company’s stock worth $240,000 after buying an additional 16,608 shares during the period. Hedge funds and other institutional investors own 35.62% of the company’s stock.
About Accelerate Diagnostics
Accelerate Diagnostics, Inc is an in vitro diagnostics company engaged in providing solutions that improve patient outcomes and lower healthcare costs through the diagnosis of serious infections. The Company’s technology platform is built to address these challenges by delivering testing of infectious pathogens in various patient sample types.
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