Accelerate Diagnostics, Inc. (NASDAQ:AXDX) has received an average broker rating score of 1.00 (Strong Buy) from the three analysts that cover the company, Zacks Investment Research reports. Three equities research analysts have rated the stock with a strong buy recommendation.
Analysts have set a one year consensus target price of $31.50 for the company and are expecting that the company will post ($0.31) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Accelerate Diagnostics an industry rank of 172 out of 265 based on the ratings given to its competitors.
A number of equities research analysts have recently commented on the stock. BidaskClub upgraded shares of Accelerate Diagnostics from a “hold” rating to a “buy” rating in a research report on Friday. Piper Jaffray Companies reiterated an “overweight” rating and issued a $32.00 target price (up from $30.00) on shares of Accelerate Diagnostics in a research report on Monday, June 5th. BTIG Research reiterated a “buy” rating and issued a $34.00 target price on shares of Accelerate Diagnostics in a research report on Wednesday, May 17th. Finally, Zacks Investment Research upgraded shares of Accelerate Diagnostics from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research report on Monday, May 8th.
Shares of Accelerate Diagnostics (NASDAQ:AXDX) traded down 5.79% during midday trading on Friday, reaching $28.50. 299,734 shares of the company’s stock were exchanged. The stock’s market cap is $1.48 billion. The firm has a 50 day moving average of $27.94 and a 200-day moving average of $24.43. Accelerate Diagnostics has a one year low of $13.65 and a one year high of $30.25.
Accelerate Diagnostics (NASDAQ:AXDX) last issued its earnings results on Friday, May 5th. The medical research company reported ($0.27) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.07. The business had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $0.60 million. Accelerate Diagnostics had a negative net margin of 11,158.43% and a negative return on equity of 76.35%. On average, equities research analysts anticipate that Accelerate Diagnostics will post ($1.18) earnings per share for the current year.
In related news, insider Steven Reichling sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $28.90, for a total transaction of $867,000.00. Following the completion of the sale, the insider now directly owns 30,700 shares in the company, valued at $887,230. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 51.40% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in AXDX. Birchview Capital LP boosted its stake in Accelerate Diagnostics by 0.4% in the first quarter. Birchview Capital LP now owns 2,183,795 shares of the medical research company’s stock valued at $52,848,000 after buying an additional 8,000 shares during the last quarter. Vanguard Group Inc. boosted its stake in Accelerate Diagnostics by 10.3% in the first quarter. Vanguard Group Inc. now owns 1,159,421 shares of the medical research company’s stock valued at $28,058,000 after buying an additional 107,977 shares during the last quarter. Blair William & Co. IL boosted its stake in Accelerate Diagnostics by 7.3% in the first quarter. Blair William & Co. IL now owns 684,207 shares of the medical research company’s stock valued at $17,293,000 after buying an additional 46,517 shares during the last quarter. Loomis Sayles & Co. L P boosted its stake in Accelerate Diagnostics by 25.2% in the first quarter. Loomis Sayles & Co. L P now owns 679,030 shares of the medical research company’s stock valued at $16,433,000 after buying an additional 136,770 shares during the last quarter. Finally, State Street Corp boosted its stake in Accelerate Diagnostics by 8.7% in the fourth quarter. State Street Corp now owns 416,027 shares of the medical research company’s stock valued at $8,634,000 after buying an additional 33,401 shares during the last quarter. Hedge funds and other institutional investors own 37.31% of the company’s stock.
About Accelerate Diagnostics
Accelerate Diagnostics, Inc is an in vitro diagnostics company engaged in providing solutions that develop patient outcomes through the diagnosis of serious infections. The Company’s in vitro diagnostic platform, the Accelerate Pheno system utilizes genotypic technology to identify (ID), infectious pathogens and phenotypic technology to conduct antibiotic susceptibility testing (AST), which determines whether live bacterial or fungal cells are resistant or susceptible to a particular antibiotic.
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