Accelerate Diagnostics (NASDAQ:AXDX) Trading 6.6% Higher

Accelerate Diagnostics Inc (NASDAQ:AXDX)’s share price shot up 6.6% during trading on Wednesday . The stock traded as high as $21.20 and last traded at $20.82, 468,600 shares changed hands during mid-day trading. An increase of 86% from the average session volume of 251,882 shares. The stock had previously closed at $19.53.

Several research firms have commented on AXDX. Piper Jaffray Companies dropped their target price on Accelerate Diagnostics from $22.00 to $19.00 and set a “positive” rating on the stock in a report on Friday, August 9th. Zacks Investment Research downgraded Accelerate Diagnostics from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. ValuEngine raised Accelerate Diagnostics from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, BidaskClub upgraded shares of Accelerate Diagnostics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $18.67.

The firm’s 50 day moving average price is $18.34 and its 200-day moving average price is $19.58. The stock has a market cap of $1.14 billion, a P/E ratio of -12.85 and a beta of 2.72. The company has a debt-to-equity ratio of 4.81, a current ratio of 19.99 and a quick ratio of 18.89.

Accelerate Diagnostics (NASDAQ:AXDX) last announced its quarterly earnings results on Thursday, August 8th. The medical research company reported ($0.38) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.02. The company had revenue of $1.81 million during the quarter, compared to the consensus estimate of $2.71 million. Accelerate Diagnostics had a negative net margin of 1,293.91% and a negative return on equity of 170.47%. On average, analysts expect that Accelerate Diagnostics Inc will post -1.58 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Accelerate Diagnostics by 15.4% during the 2nd quarter. BlackRock Inc. now owns 2,004,650 shares of the medical research company’s stock valued at $45,865,000 after purchasing an additional 267,704 shares during the last quarter. AXA raised its stake in shares of Accelerate Diagnostics by 304.0% in the second quarter. AXA now owns 1,762,505 shares of the medical research company’s stock worth $40,326,000 after purchasing an additional 1,326,233 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Accelerate Diagnostics by 0.4% in the second quarter. Vanguard Group Inc. now owns 1,392,496 shares of the medical research company’s stock worth $31,861,000 after purchasing an additional 5,041 shares during the last quarter. FMR LLC lifted its holdings in shares of Accelerate Diagnostics by 16.1% during the first quarter. FMR LLC now owns 857,069 shares of the medical research company’s stock valued at $18,016,000 after purchasing an additional 118,620 shares in the last quarter. Finally, Griffin Asset Management Inc. lifted its holdings in shares of Accelerate Diagnostics by 13.4% during the second quarter. Griffin Asset Management Inc. now owns 550,046 shares of the medical research company’s stock valued at $12,585,000 after purchasing an additional 65,175 shares in the last quarter. 54.52% of the stock is currently owned by institutional investors and hedge funds.

Accelerate Diagnostics Company Profile (NASDAQ:AXDX)

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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