Accelerate Diagnostics (AXDX) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of Accelerate Diagnostics (NASDAQ:AXDX) from a hold rating to a buy rating in a research report report published on Tuesday, May 7th, BidAskClub reports.

Other research analysts also recently issued reports about the company. Zacks Investment Research upgraded Accelerate Diagnostics from a sell rating to a hold rating in a research note on Friday, April 19th. Piper Jaffray Companies upped their price target on Accelerate Diagnostics to $22.00 and gave the stock an overweight rating in a research note on Wednesday, February 20th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Accelerate Diagnostics presently has an average rating of Buy and an average target price of $16.67.

Shares of AXDX stock traded down $0.22 during trading hours on Tuesday, hitting $18.80. 108,500 shares of the company’s stock were exchanged, compared to its average volume of 297,076. The company has a market capitalization of $1.04 billion, a PE ratio of -11.60 and a beta of 3.07. Accelerate Diagnostics has a 12-month low of $10.23 and a 12-month high of $24.75. The company has a debt-to-equity ratio of 2.86, a quick ratio of 24.03 and a current ratio of 25.36.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its earnings results on Thursday, May 9th. The medical research company reported ($0.40) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.43) by $0.03. Accelerate Diagnostics had a negative return on equity of 130.94% and a negative net margin of 1,352.80%. The business had revenue of $1.75 million during the quarter, compared to analyst estimates of $2.12 million. On average, research analysts predict that Accelerate Diagnostics will post -1.6 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Reilly Financial Advisors LLC purchased a new stake in Accelerate Diagnostics during the 1st quarter valued at $32,000. SEI Investments Co purchased a new stake in Accelerate Diagnostics during the 1st quarter valued at $52,000. Legal & General Group Plc raised its holdings in Accelerate Diagnostics by 45.2% during the 4th quarter. Legal & General Group Plc now owns 5,995 shares of the medical research company’s stock valued at $69,000 after buying an additional 1,866 shares during the period. Great West Life Assurance Co. Can raised its holdings in Accelerate Diagnostics by 207.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 6,395 shares of the medical research company’s stock valued at $134,000 after buying an additional 4,315 shares during the period. Finally, BNP Paribas Arbitrage SA raised its holdings in Accelerate Diagnostics by 30,942.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,519 shares of the medical research company’s stock valued at $137,000 after buying an additional 6,498 shares during the period. Hedge funds and other institutional investors own 50.09% of the company’s stock.

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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