Zacks Investment Research upgraded shares of Accelerate Diagnostics (NASDAQ:AXDX) from a sell rating to a hold rating in a report released on Wednesday morning.
According to Zacks, “Accelerate Diagnostics, Inc. is focused on developing and commercializing instrumentation for the rapid identification and antibiotic susceptibility testing of infectious pathogens. The company is developing BACcel(TM) system, a rapid diagnostic platform for diagnosis in life-threatening bacterial infections and OptiChem(R) surface coatings for use in micro arraying components. Accelerate Diagnostics Inc., formerly known as Accelr8 Technology Corp., is based in Denver, Colorado. “
A number of other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. cut shares of Accelerate Diagnostics from an overweight rating to a neutral rating and reduced their target price for the stock from $25.00 to $16.00 in a report on Wednesday, November 7th. Piper Jaffray Companies reduced their target price on shares of Accelerate Diagnostics to $17.00 and set an overweight rating for the company in a report on Friday, January 11th. BidaskClub upgraded shares of Accelerate Diagnostics from a strong sell rating to a sell rating in a report on Saturday, January 5th. Finally, ValuEngine cut shares of Accelerate Diagnostics from a hold rating to a sell rating in a report on Tuesday, November 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $18.75.
Accelerate Diagnostics stock opened at $22.15 on Wednesday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 33.54 and a current ratio of 35.26. Accelerate Diagnostics has a 12-month low of $10.23 and a 12-month high of $27.65.
Accelerate Diagnostics (NASDAQ:AXDX) last issued its earnings results on Tuesday, February 19th. The medical research company reported ($0.41) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.41). The firm had revenue of $1.80 million during the quarter, compared to analysts’ expectations of $1.83 million. Accelerate Diagnostics had a negative net margin of 1,564.01% and a negative return on equity of 95.07%. As a group, research analysts predict that Accelerate Diagnostics will post -1.76 EPS for the current year.
Large investors have recently modified their holdings of the stock. SRS Capital Advisors Inc. purchased a new stake in shares of Accelerate Diagnostics in the 3rd quarter valued at approximately $115,000. Legal & General Group Plc lifted its position in shares of Accelerate Diagnostics by 45.2% in the 4th quarter. Legal & General Group Plc now owns 5,995 shares of the medical research company’s stock valued at $69,000 after acquiring an additional 1,866 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its position in shares of Accelerate Diagnostics by 331.4% in 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 acquiring an additional 6,704 shares in the last quarter. HAP Trading LLC purchased a new stake in shares of Accelerate Diagnostics in the 3rd quarter valued at approximately $270,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Accelerate Diagnostics by 82.2% in 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 acquiring an additional 6,114 shares in the last quarter. Institutional investors and hedge funds own 48.39% of the company’s stock.
About Accelerate Diagnostics
Accelerate Diagnostics, Inc, an in vitro diagnostics company, provides solutions for the diagnosis of serious infections in the United States. 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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