Several other analysts have also issued reports on the stock. Piper Sandler upped their target price on shares of Accelerate Diagnostics from $14.00 to $18.00 and gave the stock an overweight rating in a research note on Monday, August 10th. BTIG Research began coverage on shares of Accelerate Diagnostics in a research note on Wednesday, October 7th. They issued a neutral rating for the company. Craig Hallum upgraded shares of Accelerate Diagnostics from a hold rating to a buy rating and set a $20.00 price target for the company in a research report on Friday, August 7th. Finally, Zacks Investment Research lowered shares of Accelerate Diagnostics from a buy rating to a hold rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Accelerate Diagnostics presently has an average rating of Hold and an average price target of $16.67.
AXDX opened at $11.62 on Thursday. The company’s fifty day moving average price is $11.12 and its two-hundred day moving average price is $11.72. Accelerate Diagnostics has a 1-year low of $4.53 and a 1-year high of $19.11. The company has a market cap of $654.85 million, a price-to-earnings ratio of -7.75 and a beta of 2.54.
Accelerate Diagnostics (NASDAQ:AXDX) last released its quarterly earnings data on Thursday, August 6th. The medical research company reported ($0.35) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.01). Accelerate Diagnostics had a negative return on equity of 5,681.44% and a negative net margin of 803.60%. The business had revenue of $2.13 million for the quarter, compared to analyst estimates of $2.47 million. On average, analysts forecast that Accelerate Diagnostics will post -1.4 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in AXDX. Wexford Capital LP purchased a new stake in shares of Accelerate Diagnostics in the second quarter worth about $30,000. Citigroup Inc. raised its stake in Accelerate Diagnostics by 44.2% in the first quarter. Citigroup Inc. now owns 8,748 shares of the medical research company’s stock valued at $73,000 after purchasing an additional 2,682 shares in the last quarter. Advisor Group Holdings Inc. bought a new position in Accelerate Diagnostics during the first quarter valued at approximately $76,000. Virtu Financial LLC bought a new position in Accelerate Diagnostics during the second quarter valued at approximately $159,000. Finally, Principal Financial Group Inc. bought a new position in Accelerate Diagnostics during the second quarter valued at approximately $178,000. 51.50% of the stock is currently 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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