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

by · The Markets Daily

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

Accelerate Diagnostics Stock Performance

Shares of NASDAQ AXDX opened at $1.54 on Thursday. The company has a market cap of $33.96 million, a P/E ratio of -0.38 and a beta of 0.62. Accelerate Diagnostics has a 52-week low of $0.73 and a 52-week high of $7.00. The firm’s fifty day moving average is $1.53 and its two-hundred day moving average is $1.22.

Accelerate Diagnostics (NASDAQ:AXDX – Get Free Report) last issued 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 firm had revenue of $2.99 million during the quarter, compared to the consensus estimate of $3.00 million. As a group, analysts forecast 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. lifted its holdings in Accelerate Diagnostics, Inc. (NASDAQ:AXDX – Free Report) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 6.26% of Accelerate Diagnostics worth $1,615,000 at the end of the most recent quarter. 17.14% of the stock is currently owned by hedge funds and other institutional investors.

Accelerate Diagnostics Company Profile

(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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