StockNews.com Initiates Coverage on Accelerate Diagnostics (NASDAQ:AXDX)

Stock analysts at StockNews.com initiated coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research report issued on Tuesday. The brokerage set a “hold” rating on the medical research company’s stock.

Accelerate Diagnostics Trading Down 5.6 %

NASDAQ:AXDX opened at $1.86 on Tuesday. The firm has a market cap of $41.01 million, a PE ratio of -0.46 and a beta of 0.57. The stock has a fifty day moving average price of $1.43 and a 200 day moving average price of $1.18. Accelerate Diagnostics has a 12-month low of $0.73 and a 12-month high of $7.06.

Accelerate Diagnostics (NASDAQ:AXDX) last released its earnings results on Thursday, August 8th. The medical research company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.05. The company had revenue of $2.99 million during the quarter, compared to analysts’ expectations of $3.00 million. Equities analysts forecast that Accelerate Diagnostics will post -2.14 EPS for the current year.

Institutional Trading of Accelerate Diagnostics

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. raised its holdings in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 11.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,354,254 shares of the medical research company’s stock after buying an additional 134,530 shares during the period. Griffin Asset Management Inc. owned about 6.25% of Accelerate Diagnostics worth $1,341,000 as of its most recent SEC filing. 17.14% of the stock is owned by 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. The company 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.