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

by · The Cerbat Gem

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

Accelerate Diagnostics Price Performance

Shares of NASDAQ:AXDX opened at $1.92 on Friday. The stock has a market capitalization of $42.34 million, a PE ratio of -0.47 and a beta of 0.61. The company’s 50-day moving average price is $1.66 and its two-hundred day moving average price is $1.28. Accelerate Diagnostics has a one year low of $0.73 and a one year high of $7.00.

Accelerate Diagnostics (NASDAQ:AXDX – Get Free Report) last released its earnings results on Thursday, August 8th. The medical research company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.05. The company had revenue of $2.99 million for the quarter, compared to the consensus estimate of $3.00 million. On average, analysts anticipate that Accelerate Diagnostics will post -2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Accelerate Diagnostics stock. Griffin Asset Management Inc. lifted its stake in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX – Free Report) by 1.9% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,380,654 shares of the medical research company’s stock after buying an additional 26,400 shares during the quarter. Griffin Asset Management Inc. owned about 6.26% of Accelerate Diagnostics worth $1,615,000 as of its most recent SEC filing. Institutional investors own 17.14% of the company’s stock.

About Accelerate Diagnostics

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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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