Accelerate Diagnostics (NASDAQ:AXDX) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Accelerate Diagnostics (NASDAQ:AXDX) from a sell rating to a hold rating in a report issued on Wednesday morning, BidAskClub reports.

AXDX has been the topic of several other reports. Piper Jaffray Companies reduced their price target on Accelerate Diagnostics from $22.00 to $19.00 and set a positive rating on the stock in a report on Friday, August 9th. BTIG Research reissued a hold rating on shares of Accelerate Diagnostics in a research note on Sunday, May 12th. ValuEngine cut Accelerate Diagnostics from a buy rating to a hold rating in a research note on Thursday, July 11th. Finally, Zacks Investment Research cut Accelerate Diagnostics from a buy rating to a hold rating in a research note on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $18.67.

Shares of NASDAQ AXDX opened at $18.29 on Wednesday. The company has a debt-to-equity ratio of 4.81, a quick ratio of 24.03 and a current ratio of 19.99. The business’s 50 day moving average price is $19.51 and its 200-day moving average price is $19.68. Accelerate Diagnostics has a fifty-two week low of $10.23 and a fifty-two week high of $24.75. The company has a market cap of $997.17 million, a price-to-earnings ratio of -11.29 and a beta of 2.75.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its quarterly earnings results on Thursday, August 8th. The medical research company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.02. Accelerate Diagnostics had a negative return on equity of 170.47% and a negative net margin of 1,293.91%. The firm had revenue of $1.81 million for the quarter, compared to the consensus estimate of $2.71 million. Sell-side analysts predict that Accelerate Diagnostics will post -1.58 earnings per share for the current year.

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in Accelerate Diagnostics by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 307,860 shares of the medical research company’s stock valued at $3,540,000 after buying an additional 9,188 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Accelerate Diagnostics by 15.9% during the fourth quarter. Bank of America Corp DE now owns 28,477 shares of the medical research company’s stock valued at $327,000 after acquiring an additional 3,907 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of Accelerate Diagnostics by 331.4% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,727 shares of the medical research company’s stock worth $100,000 after purchasing an additional 6,704 shares during the last quarter. Legal & General Group Plc raised its position in shares of Accelerate Diagnostics by 45.2% in the 4th quarter. Legal & General Group Plc now owns 5,995 shares of the medical research company’s stock worth $69,000 after purchasing an additional 1,866 shares during the last quarter. Finally, FMR LLC raised its position in shares of Accelerate Diagnostics by 25.1% in the 4th quarter. FMR LLC now owns 738,449 shares of the medical research company’s stock worth $8,492,000 after purchasing an additional 148,099 shares during the last quarter. 51.59% of the stock is currently owned by institutional investors.

Accelerate Diagnostics Company Profile

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. It 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, as well as yeast.

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