Analysts Set Accelerate Diagnostics Inc (AXDX) Target Price at $21.00

Shares of Accelerate Diagnostics Inc (NASDAQ:AXDX) have been given a consensus recommendation of “Hold” by the seven analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $21.00.

Several research firms have issued reports on AXDX. BTIG Research reaffirmed a “hold” rating on shares of Accelerate Diagnostics in a research note on Sunday. ValuEngine raised shares of Accelerate Diagnostics from a “hold” rating to a “buy” rating in a research note on Friday. BidaskClub raised shares of Accelerate Diagnostics from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. Finally, Zacks Investment Research cut shares of Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research note on Monday, May 6th.

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in shares of Accelerate Diagnostics by 2.0% in the third quarter. BlackRock Inc. now owns 1,785,849 shares of the medical research company’s stock worth $40,983,000 after acquiring an additional 34,958 shares during the last quarter. Vanguard Group Inc boosted its position in shares of Accelerate Diagnostics by 0.8% in the third quarter. Vanguard Group Inc now owns 1,291,417 shares of the medical research company’s stock worth $29,638,000 after acquiring an additional 10,601 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Accelerate Diagnostics by 0.8% in the third quarter. Vanguard Group Inc. now owns 1,291,417 shares of the medical research company’s stock worth $29,638,000 after acquiring an additional 10,601 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in shares of Accelerate Diagnostics by 33.0% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 991,090 shares of the medical research company’s stock worth $11,397,000 after acquiring an additional 246,000 shares during the last quarter. Finally, FMR LLC boosted its position in shares of Accelerate Diagnostics by 25.1% in the fourth quarter. FMR LLC now owns 738,449 shares of the medical research company’s stock worth $8,492,000 after acquiring an additional 148,099 shares during the last quarter. 48.90% of the stock is currently owned by institutional investors.

Shares of Accelerate Diagnostics stock traded down $0.25 during mid-day trading on Thursday, hitting $18.65. 4,069 shares of the stock were exchanged, compared to its average volume of 313,767. Accelerate Diagnostics has a twelve month low of $10.23 and a twelve month high of $24.75. The stock has a market capitalization of $1.05 billion, a P/E ratio of -11.56 and a beta of 3.07. The company has a debt-to-equity ratio of 2.09, a current ratio of 22.88 and a quick ratio of 21.89.

Accelerate Diagnostics (NASDAQ:AXDX) last released its quarterly earnings results on Thursday, May 9th. The medical research company reported ($0.40) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.43) by $0.03. Accelerate Diagnostics had a negative net margin of 1,352.80% and a negative return on equity of 116.58%. The company had revenue of $1.75 million for the quarter, compared to analysts’ expectations of $2.12 million. As a group, analysts forecast that Accelerate Diagnostics will post -1.79 EPS for the current year.

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. 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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