Accelerate Diagnostics (AXDX) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Accelerate Diagnostics (NASDAQ:AXDX) from a sell rating to a hold rating in a research note published on Friday morning, Zacks.com reports.

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. “

Several other equities research analysts also recently issued reports on the company. BidaskClub upgraded Accelerate Diagnostics from a buy rating to a strong-buy rating in a report on Tuesday, March 5th. Piper Jaffray Companies cut their price objective on Accelerate Diagnostics to $17.00 and set an overweight rating on the stock in a report on Friday, January 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $18.75.

AXDX stock opened at $18.10 on Friday. The company has a current ratio of 22.88, a quick ratio of 21.89 and a debt-to-equity ratio of 2.09. The firm has a market capitalization of $1.02 billion, a P/E ratio of -11.17 and a beta of 3.17. Accelerate Diagnostics has a 12-month low of $10.23 and a 12-month high of $25.35.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings data on Tuesday, February 19th. The medical research company reported ($0.41) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.41). The firm had revenue of $1.80 million for the quarter, compared to the consensus estimate of $1.83 million. Accelerate Diagnostics had a negative return on equity of 105.12% and a negative net margin of 1,564.01%. On average, research analysts expect that Accelerate Diagnostics will post -1.79 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Accelerate Diagnostics by 2.0% during the 3rd quarter. BlackRock Inc. now owns 1,785,849 shares of the medical research company’s stock worth $40,983,000 after purchasing an additional 34,958 shares in the last quarter. Vanguard Group Inc. grew its stake in Accelerate Diagnostics by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,291,417 shares of the medical research company’s stock worth $29,638,000 after purchasing an additional 10,601 shares in the last quarter. Vanguard Group Inc grew its stake in Accelerate Diagnostics by 0.8% during the 3rd quarter. Vanguard Group Inc now owns 1,291,417 shares of the medical research company’s stock worth $29,638,000 after purchasing an additional 10,601 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its stake in Accelerate Diagnostics by 33.0% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 991,090 shares of the medical research company’s stock worth $11,397,000 after purchasing an additional 246,000 shares in the last quarter. Finally, FMR LLC grew its stake in Accelerate Diagnostics by 25.1% during the 4th quarter. FMR LLC now owns 738,449 shares of the medical research company’s stock worth $8,492,000 after purchasing an additional 148,099 shares in the last quarter. 48.90% of the stock is owned by hedge funds and other 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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