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

by · The Markets Daily

StockNews.com started coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX – Free Report) in a research note released on Sunday morning. The brokerage issued a hold rating on the medical research company’s stock.

Accelerate Diagnostics Trading Up 1.6 %

Accelerate Diagnostics stock opened at $1.90 on Friday. The company has a 50-day moving average price of $1.73 and a 200 day moving average price of $1.32. Accelerate Diagnostics has a 12-month low of $0.73 and a 12-month high of $6.39. The stock has a market cap of $41.90 million, a P/E ratio of -0.47 and a beta of 0.61.

Accelerate Diagnostics (NASDAQ:AXDX – Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The medical research company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.05. The firm had revenue of $2.99 million for the quarter, compared to analyst estimates of $3.00 million. As a group, analysts forecast that Accelerate Diagnostics will post -2.14 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. grew its holdings in Accelerate Diagnostics, Inc. (NASDAQ:AXDX – Free Report) by 1.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,380,654 shares of the medical research company’s stock after acquiring an additional 26,400 shares during the period. Griffin Asset Management Inc. owned about 6.26% of Accelerate Diagnostics worth $1,615,000 as of its most recent filing with the Securities & Exchange Commission. 17.14% of the stock is currently owned by institutional investors and hedge funds.

About Accelerate Diagnostics

(Get Free Report)

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.

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