Accelerate Diagnostics (AXDX) Upgraded to Sell by BidaskClub

BidaskClub upgraded shares of Accelerate Diagnostics (NASDAQ:AXDX) from a strong sell rating to a sell rating in a research note issued to investors on Saturday.

Several other equities analysts have also issued reports on the company. Piper Jaffray Companies reissued a buy rating and issued a $24.00 price target on shares of Accelerate Diagnostics in a research note on Tuesday, August 7th. Zacks Investment Research lowered Accelerate Diagnostics from a hold rating to a sell rating in a research note on Thursday, August 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Accelerate Diagnostics currently has an average rating of Hold and an average target price of $24.50.

AXDX stock traded up $0.57 during trading on Friday, hitting $16.18. The company had a trading volume of 422,903 shares, compared to its average volume of 382,708. Accelerate Diagnostics has a one year low of $14.20 and a one year high of $30.35. The stock has a market capitalization of $875.79 million, a PE ratio of -13.95 and a beta of 2.49. The company has a debt-to-equity ratio of 1.22, a current ratio of 27.12 and a quick ratio of 25.67.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its quarterly earnings results on Monday, August 6th. The medical research company reported ($0.43) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.06). Accelerate Diagnostics had a negative net margin of 1,405.87% and a negative return on equity of 67.75%. The business had revenue of $1.69 million during the quarter, compared to analyst estimates of $2.17 million. As a group, research analysts expect that Accelerate Diagnostics will post -1.66 earnings per share for the current year.

Large investors have recently modified their holdings of the company. Cornerstone Wealth Management LLC acquired a new position in shares of Accelerate Diagnostics during the second quarter worth approximately $210,000. Thompson Investment Management Inc. raised its position in shares of Accelerate Diagnostics by 10.6% during the second quarter. Thompson Investment Management Inc. now owns 31,200 shares of the medical research company’s stock worth $696,000 after purchasing an additional 3,000 shares during the period. CIBC Private Wealth Group LLC raised its position in shares of Accelerate Diagnostics by 33.8% during the second quarter. CIBC Private Wealth Group LLC now owns 60,550 shares of the medical research company’s stock worth $1,350,000 after purchasing an additional 15,305 shares during the period. Intrinsic Edge Capital Management LLC raised its position in shares of Accelerate Diagnostics by 166.7% during the second quarter. Intrinsic Edge Capital Management LLC now owns 80,000 shares of the medical research company’s stock worth $1,784,000 after purchasing an additional 50,000 shares during the period. Finally, Baird Financial Group Inc. raised its position in shares of Accelerate Diagnostics by 3.7% during the second quarter. Baird Financial Group Inc. now owns 154,359 shares of the medical research company’s stock worth $3,442,000 after purchasing an additional 5,477 shares during the period. 45.41% of the stock is currently owned by institutional investors.

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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