Accelerate Diagnostics (NASDAQ:AXDX) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research report released on Monday. The brokerage issued a hold rating on the medical research company’s stock.

Accelerate Diagnostics Stock Down 1.1 %

Shares of AXDX opened at $1.77 on Monday. The stock has a market cap of $39.03 million, a PE ratio of -0.43 and a beta of 0.61. Accelerate Diagnostics has a 12-month low of $0.73 and a 12-month high of $6.39. The business has a 50-day simple moving average of $1.75 and a two-hundred day simple moving average of $1.35.

Accelerate Diagnostics (NASDAQ:AXDX) last released its quarterly earnings data on Thursday, August 8th. The medical research company reported ($0.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.05. The firm had revenue of $2.99 million during the quarter, compared to analyst estimates of $3.00 million. On average, equities research analysts expect that Accelerate Diagnostics will post -2.14 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. grew its stake in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 11.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,354,254 shares of the medical research company’s stock after buying an additional 134,530 shares during the period. Griffin Asset Management Inc. owned 6.25% of Accelerate Diagnostics worth $1,341,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 17.14% of the company’s stock.

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. The company 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.