Accelerate Diagnostics (NASDAQ:AXDX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Accelerate Diagnostics, Inc. is focused on developing and commercializing instrumentation for the rapid identification and antibiotic susceptibility testing of infectious pathogens. The company is developing BACcel(TM) system, a rapid diagnostic platform for diagnosis in life-threatening bacterial infections and OptiChem(R) surface coatings for use in micro arraying components. Accelerate Diagnostics Inc., formerly known as Accelr8 Technology Corp., is based in Denver, Colorado. “
A number of other equities research analysts have also recently weighed in on AXDX. BTIG Research cut Accelerate Diagnostics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 13th. They noted that the move was a valuation call. ValuEngine upgraded Accelerate Diagnostics from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Finally, BidaskClub cut Accelerate Diagnostics from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $33.00.
Accelerate Diagnostics (AXDX) traded up $0.40 on Wednesday, hitting $24.95. The company had a trading volume of 215,664 shares, compared to its average volume of 285,028. The firm has a market cap of $1,400.20, a PE ratio of -21.51 and a beta of 2.20. Accelerate Diagnostics has a 1-year low of $16.75 and a 1-year high of $30.45.
Accelerate Diagnostics (NASDAQ:AXDX) last released its quarterly earnings results on Thursday, February 15th. The medical research company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.05. The business had revenue of $2.10 million for the quarter. Accelerate Diagnostics had a negative return on equity of 55.26% and a negative net margin of 1,520.99%. equities research analysts forecast that Accelerate Diagnostics will post -1.25 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC lifted its stake in Accelerate Diagnostics by 2.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 22,966 shares of the medical research company’s stock valued at $628,000 after buying an additional 492 shares in the last quarter. California State Teachers Retirement System lifted its stake in Accelerate Diagnostics by 1.5% in the 2nd quarter. California State Teachers Retirement System now owns 46,111 shares of the medical research company’s stock valued at $1,261,000 after buying an additional 700 shares in the last quarter. Voya Investment Management LLC lifted its stake in Accelerate Diagnostics by 13.9% in the 2nd quarter. Voya Investment Management LLC now owns 12,193 shares of the medical research company’s stock valued at $333,000 after buying an additional 1,486 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Accelerate Diagnostics by 7.4% in the 2nd quarter. Alliancebernstein L.P. now owns 35,010 shares of the medical research company’s stock valued at $958,000 after buying an additional 2,400 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Accelerate Diagnostics by 13.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,125 shares of the medical research company’s stock valued at $578,000 after buying an additional 2,425 shares in the last quarter. 47.21% of the stock is currently owned by hedge funds and other institutional investors.
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Accelerate Diagnostics Company Profile
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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