A number of other analysts have also issued reports on the company. BidaskClub raised Accelerate Diagnostics from a hold rating to a buy rating in a research note on Tuesday, May 7th. Piper Jaffray Companies raised their price target on Accelerate Diagnostics to $22.00 and gave the stock an overweight rating in a research note on Wednesday, February 20th. Zacks Investment Research upgraded Accelerate Diagnostics from a sell rating to a hold rating in a report on Thursday, February 14th. Finally, BTIG Research restated a hold rating on shares of Accelerate Diagnostics in a report on Sunday, May 12th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $19.67.
Shares of NASDAQ:AXDX opened at $19.74 on Wednesday. The company has a current ratio of 25.36, a quick ratio of 24.03 and a debt-to-equity ratio of 2.86. Accelerate Diagnostics has a 12-month low of $10.23 and a 12-month high of $24.75. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -12.19 and a beta of 2.83.
Accelerate Diagnostics (NASDAQ:AXDX) last issued its quarterly earnings results on Thursday, May 9th. The medical research company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.75 million for the quarter, compared to analyst estimates of $2.12 million. Sell-side analysts expect that Accelerate Diagnostics will post -1.6 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in the company. Belpointe Asset Management LLC purchased a new stake in Accelerate Diagnostics during the 1st quarter worth approximately $5,728,000. Marshall Wace LLP purchased a new stake in Accelerate Diagnostics during the 1st quarter worth approximately $318,000. FMR LLC increased its holdings in Accelerate Diagnostics by 16.1% during the 1st quarter. FMR LLC now owns 857,069 shares of the medical research company’s stock worth $18,016,000 after purchasing an additional 118,620 shares during the last quarter. HighTower Advisors LLC purchased a new stake in Accelerate Diagnostics during the 1st quarter worth approximately $207,000. Finally, Morgan Stanley increased its holdings in Accelerate Diagnostics by 186.5% during the 1st quarter. Morgan Stanley now owns 476,232 shares of the medical research company’s stock worth $10,010,000 after purchasing an additional 310,031 shares during the last quarter. 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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