Accelerate Diagnostics (AXDX) Downgraded by JPMorgan Chase & Co.
JPMorgan Chase & Co. lowered shares of Accelerate Diagnostics (NASDAQ:AXDX) from an overweight rating to a neutral rating in a research note released on Wednesday morning, Marketbeat Ratings reports. JPMorgan Chase & Co. currently has $16.00 price target on the medical research company’s stock, down from their previous price target of $25.00.
AXDX has been the topic of a number of other research reports. Zacks Investment Research lowered Accelerate Diagnostics from a hold rating to a sell rating in a research report on Thursday, August 9th. Piper Jaffray Companies restated a buy rating and set a $24.00 price objective on shares of Accelerate Diagnostics in a research report on Tuesday, August 7th. Finally, BidaskClub lowered Accelerate Diagnostics from a hold rating to a sell rating in a research report on Friday, October 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $21.67.
Shares of AXDX traded down $0.30 during midday trading on Wednesday, hitting $14.67. The company’s stock had a trading volume of 394,993 shares, compared to its average volume of 400,386. The firm has a market cap of $781.55 million, a price-to-earnings ratio of -12.65 and a beta of 2.49. Accelerate Diagnostics has a one year low of $13.25 and a one year high of $30.35. The company has a debt-to-equity ratio of 1.22, a quick ratio of 25.67 and a current ratio of 27.12.
A number of hedge funds have recently modified their holdings of the stock. Cornerstone Wealth Management LLC bought a new stake in Accelerate Diagnostics during the 2nd quarter worth $210,000. SRS Capital Advisors Inc. bought a new stake in shares of Accelerate Diagnostics in the 3rd quarter valued at about $115,000. Baird Financial Group Inc. grew its position in shares of Accelerate Diagnostics by 3.7% in the 2nd quarter. Baird Financial Group Inc. now owns 154,359 shares of the medical research company’s stock valued at $3,442,000 after buying an additional 5,477 shares during the last quarter. Northern Trust Corp grew its position in shares of Accelerate Diagnostics by 2.5% in the 2nd quarter. Northern Trust Corp now owns 350,809 shares of the medical research company’s stock valued at $7,823,000 after buying an additional 8,608 shares during the last quarter. Finally, HAP Trading LLC bought a new stake in shares of Accelerate Diagnostics in the 3rd quarter valued at about $270,000. Institutional investors and hedge funds own 45.34% 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. 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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