Accelerate Diagnostics Inc (NASDAQ:AXDX) Given Average Rating of “Hold” by Analysts

Shares of Accelerate Diagnostics Inc (NASDAQ:AXDX) have been assigned a consensus rating of “Hold” from the seven brokerages that are presently covering the stock, reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $18.33.

AXDX has been the subject of a number of recent research reports. BidaskClub upgraded Accelerate Diagnostics from a “hold” rating to a “buy” rating in a research note on Friday. Zacks Investment Research downgraded Accelerate Diagnostics from a “hold” rating to a “sell” rating in a report on Thursday. Piper Sandler increased their target price on Accelerate Diagnostics from to and gave the stock an “overweight” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. downgraded Accelerate Diagnostics from a “neutral” rating to an “underweight” rating and set a $16.00 price target for the company. in a report on Friday, September 27th. Finally, ValuEngine raised Accelerate Diagnostics from a “sell” rating to a “hold” rating in a research report on Tuesday, January 7th.

AXDX traded down $0.71 during midday trading on Tuesday, reaching $17.30. The company’s stock had a trading volume of 163,172 shares, compared to its average volume of 211,653. The company has a debt-to-equity ratio of 12.81, a current ratio of 21.93 and a quick ratio of 20.65. Accelerate Diagnostics has a 1 year low of $14.27 and a 1 year high of $24.00. The stock’s 50-day moving average is $16.78 and its 200-day moving average is $17.96.

Accelerate Diagnostics (NASDAQ:AXDX) last released its earnings results on Thursday, November 7th. The medical research company reported ($0.37) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.38) by $0.01. The firm had revenue of $2.27 million during the quarter, compared to analyst estimates of $3.15 million. Accelerate Diagnostics had a negative net margin of 1,116.69% and a negative return on equity of 249.46%. Analysts anticipate that Accelerate Diagnostics will post -1.58 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC purchased a new position in shares of Accelerate Diagnostics during the second quarter valued at approximately $27,000. M&T Bank Corp bought a new stake in Accelerate Diagnostics in the 2nd quarter worth approximately $206,000. HighTower Advisors LLC grew its position in Accelerate Diagnostics by 28.5% in the 2nd quarter. HighTower Advisors LLC now owns 12,687 shares of the medical research company’s stock worth $289,000 after purchasing an additional 2,815 shares during the period. Marshall Wace LLP purchased a new stake in Accelerate Diagnostics during the 1st quarter valued at $318,000. Finally, PVG Asset Management Corp bought a new position in Accelerate Diagnostics in the 3rd quarter worth $366,000. Hedge funds and other institutional investors own 53.83% of the company’s stock.

About Accelerate Diagnostics

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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