Accelerate Diagnostics (NASDAQ:AXDX) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of Accelerate Diagnostics (NASDAQ:AXDX) from a hold rating to a buy rating in a research note released on Friday, BidAskClub reports.

A number of other research analysts also recently issued reports on AXDX. Piper Sandler lifted their price target on shares of Accelerate Diagnostics from to and gave the stock an overweight rating in a research note on Tuesday, January 14th. Zacks Investment Research downgraded shares of Accelerate Diagnostics from a hold rating to a sell rating in a research note on Thursday, January 16th. ValuEngine upgraded shares of Accelerate Diagnostics from a sell rating to a hold rating in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. downgraded shares of Accelerate Diagnostics from a neutral rating to an underweight rating and set a $16.00 price target for the company. in a research note on Friday, September 27th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Accelerate Diagnostics presently has a consensus rating of Hold and an average price target of $19.00.

Shares of Accelerate Diagnostics stock opened at $17.30 on Friday. Accelerate Diagnostics has a 52-week low of $14.27 and a 52-week high of $24.00. The company has a 50 day moving average of $16.93 and a 200 day moving average of $17.87. The company has a quick ratio of 20.65, a current ratio of 21.93 and a debt-to-equity ratio of 12.81. The company has a market capitalization of $945.45 million, a P/E ratio of -11.09 and a beta of 2.72.

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

A number of hedge funds have recently added to or reduced their stakes in AXDX. Chicago Capital LLC raised its holdings in Accelerate Diagnostics by 49.1% during the fourth quarter. Chicago Capital LLC now owns 1,314,093 shares of the medical research company’s stock worth $22,208,000 after purchasing an additional 432,703 shares in the last quarter. BlackRock Inc. raised its holdings in Accelerate Diagnostics by 15.4% during the second quarter. BlackRock Inc. now owns 2,004,650 shares of the medical research company’s stock worth $45,865,000 after purchasing an additional 267,704 shares in the last quarter. Griffin Asset Management Inc. raised its holdings in Accelerate Diagnostics by 48.1% during the third quarter. Griffin Asset Management Inc. now owns 814,749 shares of the medical research company’s stock worth $15,130,000 after purchasing an additional 264,703 shares in the last quarter. FMR LLC raised its holdings in Accelerate Diagnostics by 16.1% during the first quarter. FMR LLC now owns 857,069 shares of the medical research company’s stock worth $18,016,000 after purchasing an additional 118,620 shares in the last quarter. Finally, River & Mercantile Asset Management LLP acquired a new stake in Accelerate Diagnostics during the second quarter worth approximately $1,539,000. 54.63% of the stock is currently owned by institutional investors.

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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