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

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

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

Accelerate Diagnostics Stock Performance

Shares of AXDX stock opened at $1.18 on Monday. The company has a market cap of $26.02 million, a P/E ratio of -0.29 and a beta of 0.57. The stock has a 50 day simple moving average of $1.12 and a two-hundred day simple moving average of $1.54. Accelerate Diagnostics has a fifty-two week low of $0.73 and a fifty-two week 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. On average, research analysts predict that Accelerate Diagnostics will post -2.37 earnings per share for the current year.

Institutional Investors Weigh In On Accelerate Diagnostics

An institutional investor recently bought a new position in Accelerate Diagnostics stock. Tejara Capital Ltd bought a new stake in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 13,614 shares of the medical research company’s stock, valued at approximately $78,000. Tejara Capital Ltd owned about 0.09% of Accelerate Diagnostics as of its most recent SEC filing. Institutional investors and hedge funds 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.