Shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) have earned a consensus broker rating score of 1.00 (Strong Buy) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. Four investment analysts have rated the stock with a strong buy rating.
Brokers have set a twelve-month consensus target price of $32.00 for the company and are forecasting that the company will post ($0.31) EPS for the current quarter, according to Zacks. Zacks has also assigned Accelerate Diagnostics an industry rank of 164 out of 265 based on the ratings given to related companies.
A number of equities research analysts recently issued reports on the stock. BidaskClub raised shares of Accelerate Diagnostics from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. BTIG Research reissued a “buy” rating and issued a $34.00 price objective on shares of Accelerate Diagnostics in a report on Wednesday, July 12th. Zacks Investment Research lowered shares of Accelerate Diagnostics from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Finally, ValuEngine lowered shares of Accelerate Diagnostics from a “hold” rating to a “sell” rating in a report on Friday, August 11th.
In related news, Director Jack W. Schuler bought 61,300 shares of the stock in a transaction on Friday, October 13th. The stock was bought at an average price of $19.29 per share, with a total value of $1,182,477.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jack W. Schuler bought 23,400 shares of the stock in a transaction on Monday, August 14th. The shares were bought at an average cost of $21.35 per share, with a total value of $499,590.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 655,622 shares of company stock valued at $13,251,092. 50.00% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. boosted its stake in Accelerate Diagnostics by 7.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 117,236 shares of the medical research company’s stock worth $3,207,000 after buying an additional 7,930 shares during the period. Bank of America Corp DE boosted its stake in Accelerate Diagnostics by 51.0% during the first quarter. Bank of America Corp DE now owns 15,200 shares of the medical research company’s stock worth $368,000 after buying an additional 5,132 shares during the period. Oaktop Capital Management II L.P. purchased a new position in Accelerate Diagnostics during the second quarter worth about $4,239,000. Marshall Wace North America L.P. purchased a new position in Accelerate Diagnostics during the second quarter worth about $1,213,000. Finally, Wells Fargo & Company MN boosted its stake in Accelerate Diagnostics by 21.2% during the second quarter. Wells Fargo & Company MN now owns 73,328 shares of the medical research company’s stock worth $2,005,000 after buying an additional 12,840 shares during the period. 44.63% of the stock is owned by institutional investors.
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Shares of Accelerate Diagnostics (AXDX) opened at $18.00 on Friday. Accelerate Diagnostics has a 1-year low of $16.75 and a 1-year high of $30.45.
Accelerate Diagnostics (NASDAQ:AXDX) last announced its quarterly earnings data on Thursday, August 3rd. The medical research company reported ($0.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.01). Accelerate Diagnostics had a negative net margin of 3,085.36% and a negative return on equity of 66.31%. The firm had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $1.40 million. sell-side analysts forecast that Accelerate Diagnostics will post -1.2 earnings per share for the current fiscal year.
About Accelerate Diagnostics
Accelerate Diagnostics, Inc is an in vitro diagnostics company engaged in providing solutions that develop patient outcomes through the diagnosis of serious infections. The Company’s in vitro diagnostic platform, the Accelerate Pheno system utilizes genotypic technology to identify (ID), infectious pathogens and phenotypic technology to conduct antibiotic susceptibility testing (AST), which determines whether live bacterial or fungal cells are resistant or susceptible to a particular antibiotic.
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