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

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

AXDX has been the topic of a number of other research reports. William Blair restated an outperform rating on shares of Accelerate Diagnostics in a research note on Tuesday, April 2nd. Craig Hallum lowered their target price on Accelerate Diagnostics from $2.00 to $1.00 and set a hold rating on the stock in a research note on Monday, April 1st.

Accelerate Diagnostics Stock Performance

Shares of Accelerate Diagnostics stock opened at $1.28 on Friday. The stock has a market cap of $28.22 million, a price-to-earnings ratio of -0.31 and a beta of 0.64. The stock has a 50 day moving average price of $1.04 and a 200-day moving average price of $1.80. Accelerate Diagnostics has a one year low of $0.73 and a one year high of $8.72.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its earnings results on Wednesday, May 8th. The medical research company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.16). The business had revenue of $2.92 million during the quarter, compared to analyst estimates of $3.00 million. Sell-side analysts predict that Accelerate Diagnostics will post -2.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Accelerate Diagnostics stock. Tejara Capital Ltd purchased a new position in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 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 SEC filing. Hedge funds and other institutional investors own 17.14% of the company’s stock.

Accelerate Diagnostics Company Profile

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.