Accelerate Diagnostics Inc (NASDAQ:AXDX) has been assigned an average broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy rating.
Brokers have set a one year consensus target price of $29.00 for the company and are predicting that the company will post ($0.33) EPS for the current quarter, according to Zacks. Zacks has also assigned Accelerate Diagnostics an industry rank of 147 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research raised Accelerate Diagnostics from a “sell” rating to a “hold” rating in a research note on Thursday, March 2nd.
Accelerate Diagnostics (NASDAQ:AXDX) last announced its quarterly earnings results on Monday, February 27th. The medical research company reported ($0.31) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.04. The business had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.24 million. Accelerate Diagnostics had a negative return on equity of 56.50% and a negative net margin of 27,686.46%. On average, analysts anticipate that Accelerate Diagnostics will post ($1.33) EPS for the current year.
A number of large investors have recently bought and sold shares of the stock. Arrowpoint Asset Management LLC raised its stake in Accelerate Diagnostics by 8.7% in the fourth quarter. Arrowpoint Asset Management LLC now owns 743,229 shares of the medical research company’s stock worth $15,422,000 after buying an additional 59,771 shares during the last quarter. State Street Corp raised its stake in Accelerate Diagnostics by 8.7% in the fourth quarter. State Street Corp now owns 416,027 shares of the medical research company’s stock worth $8,634,000 after buying an additional 33,401 shares during the last quarter. Selkirk Management LLC raised its stake in Accelerate Diagnostics by 22.2% in the fourth quarter. Selkirk Management LLC now owns 356,000 shares of the medical research company’s stock worth $7,387,000 after buying an additional 64,600 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Accelerate Diagnostics by 354.1% in the third quarter. JPMorgan Chase & Co. now owns 75,715 shares of the medical research company’s stock worth $2,064,000 after buying an additional 59,042 shares during the last quarter. Finally, Credit Agricole S A bought a new stake in Accelerate Diagnostics during the fourth quarter worth about $1,380,000. 37.35% of the stock is currently owned by hedge funds and other institutional investors.
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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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