Accelerate Diagnostics (NASDAQ:AXDX) Stock Price Up 10%

Accelerate Diagnostics Inc (NASDAQ:AXDX) rose 10% during trading on Thursday . The stock traded as high as $22.32 and last traded at $22.27. Approximately 314,724 shares were traded during mid-day trading, an increase of 15% from the average daily volume of 274,142 shares. The stock had previously closed at $20.24.

AXDX has been the subject of several research reports. ValuEngine upgraded shares of Accelerate Diagnostics from a “hold” rating to a “buy” rating in a report on Friday, May 10th. BidaskClub raised shares of Accelerate Diagnostics from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. Finally, Zacks Investment Research raised shares of Accelerate Diagnostics from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Tuesday, June 4th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Accelerate Diagnostics currently has an average rating of “Buy” and an average target price of $19.67.

The firm has a 50-day moving average price of $19.83. 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 released 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. The firm had revenue of $1.75 million for the quarter, compared to the consensus estimate of $2.12 million. Accelerate Diagnostics had a negative net margin of 1,352.80% and a negative return on equity of 130.94%. As a group, analysts predict that Accelerate Diagnostics Inc will post -1.6 EPS for the current year.

Large investors have recently added to or reduced their stakes in the company. Reilly Financial Advisors LLC purchased a new stake in Accelerate Diagnostics during the 1st quarter valued at about $32,000. Legal & General Group Plc grew its position 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 purchasing an additional 1,866 shares during the last quarter. BNP Paribas Arbitrage SA grew its position 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 purchasing an additional 6,498 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its position in Accelerate Diagnostics by 331.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,727 shares of the medical research company’s stock valued at $100,000 after purchasing an additional 6,704 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Accelerate Diagnostics by 82.2% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 13,556 shares of the medical research company’s stock valued at $159,000 after purchasing an additional 6,114 shares during the last quarter. 50.58% of the stock is currently owned by hedge funds and other institutional investors.

Accelerate Diagnostics Company Profile (NASDAQ:AXDX)

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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