Accelerate Diagnostics (NASDAQ:AXDX) Coverage Initiated at StockNews.com

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

Other equities analysts also recently issued reports about the company. Craig Hallum lowered their price objective on Accelerate Diagnostics from $2.00 to $1.00 and set a hold rating on the stock in a research report on Monday, April 1st. William Blair reiterated an outperform rating on shares of Accelerate Diagnostics in a research report on Tuesday, April 2nd.

Accelerate Diagnostics Stock Up 3.3 %

Shares of Accelerate Diagnostics stock opened at $0.89 on Friday. The stock’s 50-day simple moving average is $0.99 and its 200-day simple moving average is $3.07. Accelerate Diagnostics has a 52 week low of $0.73 and a 52 week high of $11.90. The company has a market capitalization of $19.22 million, a price-to-earnings ratio of -0.18 and a beta of 0.52.

Accelerate Diagnostics (NASDAQ:AXDX) last announced its quarterly earnings data on Thursday, March 28th. The medical research company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.27). The firm had revenue of $3.03 million during the quarter, compared to analyst estimates of $3.80 million. On average, equities analysts expect that Accelerate Diagnostics will post -2.27 earnings per share for the current year.

Institutional Investors Weigh In On Accelerate Diagnostics

Hedge funds have recently made changes to their positions in the company. Sonora Investment Management Group LLC purchased a new stake in Accelerate Diagnostics during the third quarter valued at approximately $63,000. Tejara Capital Ltd purchased a new stake in Accelerate Diagnostics during the third quarter valued at approximately $78,000. Griffin Asset Management Inc. raised its position in Accelerate Diagnostics by 3.0% during the fourth quarter. Griffin Asset Management Inc. now owns 1,219,724 shares of the medical research company’s stock valued at $4,781,000 after purchasing an additional 35,146 shares during the period. Finally, TCI Wealth Advisors Inc. purchased a new stake in Accelerate Diagnostics during the third quarter valued at approximately $337,000. 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.