Brokerages Set Accelerate Diagnostics Inc (NASDAQ:AXDX) PT at $17.50

Accelerate Diagnostics Inc (NASDAQ:AXDX) has been given an average recommendation of “Hold” by the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $17.50.

AXDX has been the subject of a number of research analyst reports. Piper Jaffray Companies lowered their price objective on shares of Accelerate Diagnostics from $22.00 to $19.00 and set a “positive” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. cut shares of Accelerate Diagnostics from a “neutral” rating to an “underweight” rating and set a $16.00 price objective for the company. in a research report on Friday, September 27th. ValuEngine cut shares of Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Finally, BidaskClub cut shares of Accelerate Diagnostics from a “sell” rating to a “strong sell” rating in a research report on Saturday, November 2nd.

A number of institutional investors and hedge funds have recently bought and sold shares of AXDX. AXA grew its holdings in Accelerate Diagnostics by 304.0% during the 2nd quarter. AXA now owns 1,762,505 shares of the medical research company’s stock worth $40,326,000 after acquiring an additional 1,326,233 shares during the last quarter. C WorldWide Group Holding A S grew its holdings in Accelerate Diagnostics by 357.5% during the 2nd quarter. C WorldWide Group Holding A S now owns 524,683 shares of the medical research company’s stock worth $12,005,000 after acquiring an additional 410,000 shares during the last quarter. Chicago Capital LLC grew its holdings in Accelerate Diagnostics by 61.3% during the 3rd quarter. Chicago Capital LLC now owns 881,390 shares of the medical research company’s stock worth $16,367,000 after acquiring an additional 335,111 shares during the last quarter. BlackRock Inc. grew its holdings in Accelerate Diagnostics by 15.4% during the 2nd quarter. BlackRock Inc. now owns 2,004,650 shares of the medical research company’s stock worth $45,865,000 after acquiring an additional 267,704 shares during the last quarter. Finally, Griffin Asset Management Inc. grew its holdings in Accelerate Diagnostics by 48.1% during the 3rd quarter. Griffin Asset Management Inc. now owns 814,749 shares of the medical research company’s stock worth $15,130,000 after acquiring an additional 264,703 shares during the last quarter. 53.85% of the stock is currently owned by hedge funds and other institutional investors.

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AXDX stock traded down $0.34 during trading on Monday, reaching $14.60. 220,844 shares of the company were exchanged, compared to its average volume of 242,960. The company has a 50-day moving average of $16.34 and a two-hundred day moving average of $18.64. The company has a market capitalization of $813.19 million, a price-to-earnings ratio of -9.01 and a beta of 2.71. Accelerate Diagnostics has a twelve month low of $10.23 and a twelve month high of $24.00. The company has a debt-to-equity ratio of 12.81, a current ratio of 21.93 and a quick ratio of 20.65.

Accelerate Diagnostics (NASDAQ:AXDX) last released its quarterly earnings data on Thursday, November 7th. The medical research company reported ($0.37) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.01. The business had revenue of $2.27 million during the quarter, compared to analysts’ expectations of $3.15 million. Accelerate Diagnostics had a negative net margin of 1,116.69% and a negative return on equity of 249.46%. On average, analysts forecast that Accelerate Diagnostics will post -1.58 EPS for the current year.

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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