Zacks: Analysts Set $26.50 Target Price for Accelerate Diagnostics Inc (AXDX)

Shares of Accelerate Diagnostics Inc (NASDAQ:AXDX) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the four brokers that cover the company, Zacks Investment Research reports. Four analysts have rated the stock with a strong buy rating.

Brokerages have set a 1-year consensus price objective of $26.50 for the company and are expecting that the company will post ($0.33) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Accelerate Diagnostics an industry rank of 161 out of 265 based on the ratings given to related companies.

Several research firms have commented on AXDX. Zacks Investment Research downgraded Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. ValuEngine downgraded Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Finally, BidaskClub downgraded Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th.

In related news, Director Jack W. Schuler acquired 61,300 shares of the stock in a transaction dated Friday, October 13th. The stock was bought at an average cost of $19.29 per share, for a total transaction of $1,182,477.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jack W. Schuler acquired 276,200 shares of the stock in a transaction dated Thursday, October 12th. The shares were bought at an average price of $19.74 per share, with a total value of $5,452,188.00. The disclosure for this purchase can be found here. Insiders have bought 981,667 shares of company stock valued at $18,879,924 over the last 90 days. 50.00% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its stake in Accelerate Diagnostics by 0.3% during the first quarter. Legal & General Group Plc now owns 5,123 shares of the medical research company’s stock worth $123,000 after purchasing an additional 15 shares during the period. CLS Investments LLC acquired a new stake in Accelerate Diagnostics during the second quarter worth approximately $137,000. Quantbot Technologies LP acquired a new stake in Accelerate Diagnostics during the second quarter worth approximately $228,000. UBS Asset Management Americas Inc. acquired a new stake in Accelerate Diagnostics during the second quarter worth approximately $243,000. Finally, SG Americas Securities LLC grew its stake in Accelerate Diagnostics by 87.8% during the second quarter. SG Americas Securities LLC now owns 11,054 shares of the medical research company’s stock worth $302,000 after purchasing an additional 5,169 shares during the period. 47.98% of the stock is owned by institutional investors and hedge funds.

Accelerate Diagnostics (NASDAQ AXDX) traded up $0.45 during trading on Wednesday, reaching $27.70. The company’s stock had a trading volume of 327,300 shares, compared to its average volume of 358,897. Accelerate Diagnostics has a 1 year low of $16.75 and a 1 year high of $30.45.

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About Accelerate Diagnostics

Accelerate Diagnostics, Inc is an in vitro diagnostics company engaged in providing solutions that develop patient outcomes through the diagnosis of serious infections. The Company’s in vitro diagnostic platform, the Accelerate Pheno system utilizes genotypic technology to identify (ID), infectious pathogens and phenotypic technology to conduct antibiotic susceptibility testing (AST), which determines whether live bacterial or fungal cells are resistant or susceptible to a particular antibiotic.

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