Equities research analysts predict that Accelerate Diagnostics Inc (NASDAQ:AXDX) will report $2.89 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Accelerate Diagnostics’ earnings, with the highest sales estimate coming in at $3.50 million and the lowest estimate coming in at $1.90 million. Accelerate Diagnostics posted sales of $830,000.00 in the same quarter last year, which would indicate a positive year over year growth rate of 248.2%. The company is scheduled to announce its next earnings results on Thursday, November 1st.

On average, analysts expect that Accelerate Diagnostics will report full-year sales of $11.90 million for the current fiscal year, with estimates ranging from $10.50 million to $12.92 million. For the next fiscal year, analysts anticipate that the business will post sales of $49.18 million, with estimates ranging from $45.31 million to $51.60 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Accelerate Diagnostics.

Accelerate Diagnostics (NASDAQ:AXDX) last released its quarterly earnings results on Monday, August 6th. The medical research company reported ($0.43) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.06). The firm had revenue of $1.69 million during the quarter, compared to the consensus estimate of $2.17 million. Accelerate Diagnostics had a negative net margin of 1,405.87% and a negative return on equity of 67.75%.

Several analysts recently issued reports on AXDX shares. BidaskClub upgraded Accelerate Diagnostics from a “hold” rating to a “buy” rating in a research note on Thursday, June 21st. Zacks Investment Research upgraded Accelerate Diagnostics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $24.00 price target on shares of Accelerate Diagnostics in a research note on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $24.50.

Institutional investors have recently bought and sold shares of the company. Cornerstone Wealth Management LLC acquired a new position in shares of Accelerate Diagnostics during the 2nd quarter worth $210,000. Cowen Inc. acquired a new position in Accelerate Diagnostics in the 1st quarter worth about $267,000. Thompson Investment Management Inc. increased its holdings in Accelerate Diagnostics by 10.6% in the 2nd quarter. Thompson Investment Management Inc. now owns 31,200 shares of the medical research company’s stock worth $696,000 after purchasing an additional 3,000 shares in the last quarter. GSA Capital Partners LLP increased its holdings in Accelerate Diagnostics by 71.7% in the 1st quarter. GSA Capital Partners LLP now owns 47,400 shares of the medical research company’s stock worth $1,083,000 after purchasing an additional 19,800 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in Accelerate Diagnostics in the 1st quarter worth about $1,302,000. 45.46% of the stock is owned by institutional investors.

AXDX traded down $0.03 during trading on Wednesday, hitting $16.55. The stock had a trading volume of 391,120 shares, compared to its average volume of 239,924. The company has a market capitalization of $1.24 billion, a PE ratio of -14.27 and a beta of 2.06. Accelerate Diagnostics has a one year low of $16.27 and a one year high of $30.35. The company has a debt-to-equity ratio of 1.22, a current ratio of 27.12 and a quick ratio of 25.67.

Accelerate Diagnostics Company Profile

Accelerate Diagnostics, Inc, an in vitro diagnostics company, provides solutions for the diagnosis of serious infections in the United States. It 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, as well as yeast.

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Earnings History and Estimates for Accelerate Diagnostics (NASDAQ:AXDX)

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