A number of other research firms also recently weighed in on AXDX. JPMorgan Chase & Co. downgraded Accelerate Diagnostics from a “neutral” rating to an “underweight” rating and set a $16.00 price target on the stock. in a research note on Friday, September 27th. BidaskClub downgraded Accelerate Diagnostics from a “sell” rating to a “strong sell” rating in a research note on Saturday, November 2nd. Finally, Piper Jaffray Companies lowered their price objective on Accelerate Diagnostics from $22.00 to $19.00 and set a “positive” rating for the company in a research note on Friday, August 9th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $18.67.
Shares of AXDX stock opened at $15.39 on Friday. The stock’s fifty day simple moving average is $17.85 and its 200 day simple moving average is $19.06. Accelerate Diagnostics has a twelve month low of $10.23 and a twelve month high of $24.00. The company has a quick ratio of 18.89, a current ratio of 19.99 and a debt-to-equity ratio of 4.81. The firm has a market capitalization of $886.97 million, a P/E ratio of -9.50 and a beta of 2.72.
Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings results on Thursday, November 7th. The medical research company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.01. Accelerate Diagnostics had a negative return on equity of 170.47% and a negative net margin of 1,293.91%. The business had revenue of $2.27 million for the quarter, compared to the consensus estimate of $3.15 million. As a group, equities research analysts expect that Accelerate Diagnostics will post -1.58 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the company. Nuveen Asset Management LLC raised its stake in shares of Accelerate Diagnostics by 12.9% in the second quarter. Nuveen Asset Management LLC now owns 448,289 shares of the medical research company’s stock worth $10,257,000 after purchasing an additional 51,304 shares during the last quarter. Chicago Capital LLC raised its stake in shares of Accelerate Diagnostics by 61.3% in the third quarter. Chicago Capital LLC now owns 881,390 shares of the medical research company’s stock worth $16,367,000 after purchasing an additional 335,111 shares during the last quarter. M&T Bank Corp purchased a new stake in shares of Accelerate Diagnostics in the second quarter worth approximately $206,000. TCI Wealth Advisors Inc. purchased a new stake in shares of Accelerate Diagnostics in the third quarter worth approximately $1,032,000. Finally, AXA raised its stake in shares of Accelerate Diagnostics by 304.0% in the second quarter. AXA now owns 1,762,505 shares of the medical research company’s stock worth $40,326,000 after purchasing an additional 1,326,233 shares during the last quarter. 54.77% of the stock is owned by hedge funds and other institutional investors.
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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