Accelerate Diagnostics (NASDAQ:AXDX) Receives New Coverage from Analysts at StockNews.com

by · The Cerbat Gem

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

Accelerate Diagnostics Stock Performance

AXDX stock opened at $1.71 on Friday. Accelerate Diagnostics has a one year low of $0.73 and a one year high of $7.00. The firm has a market cap of $37.71 million, a PE ratio of -0.42 and a beta of 0.62. The firm’s 50 day moving average price is $1.59 and its 200-day moving average price is $1.25.

Accelerate Diagnostics (NASDAQ:AXDX – Get Free Report) last posted its earnings results on Thursday, August 8th. The medical research company reported ($0.50) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.05. The business had revenue of $2.99 million during the quarter, compared to analysts’ expectations of $3.00 million. Equities research analysts predict that Accelerate Diagnostics will post -2.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Accelerate Diagnostics stock. Griffin Asset Management Inc. increased its stake in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX – Free Report) by 11.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,354,254 shares of the medical research company’s stock after purchasing an additional 134,530 shares during the period. Griffin Asset Management Inc. owned approximately 6.25% of Accelerate Diagnostics worth $1,341,000 at the end of the most recent reporting period. Institutional investors own 17.14% of the company’s stock.

Accelerate Diagnostics Company Profile

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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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