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 issued on Monday. The firm set a “hold” rating on the medical research company’s stock.

Accelerate Diagnostics Trading Up 3.4 %

NASDAQ:AXDX opened at $1.81 on Monday. The company has a 50-day moving average price of $1.74 and a 200-day moving average price of $1.33. Accelerate Diagnostics has a 12 month low of $0.73 and a 12 month high of $6.39. The stock has a market cap of $39.91 million, a price-to-earnings ratio of -0.44 and a beta of 0.61.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its earnings results on Thursday, August 8th. The medical research company reported ($0.50) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.05. The company had revenue of $2.99 million during the quarter, compared to analysts’ expectations of $3.00 million. Equities analysts forecast that Accelerate Diagnostics will post -2.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Accelerate Diagnostics

An institutional investor recently raised its position in Accelerate Diagnostics stock. Griffin Asset Management Inc. lifted its stake in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,380,654 shares of the medical research company’s stock after purchasing an additional 26,400 shares during the period. Griffin Asset Management Inc. owned 6.26% of Accelerate Diagnostics worth $1,615,000 as of its most recent SEC filing. 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.