Accelerate Diagnostics (NASDAQ:AXDX) Trading 9.4% Higher

Accelerate Diagnostics Inc (NASDAQ:AXDX) shares traded up 9.4% during mid-day trading on Tuesday . The stock traded as high as $21.35 and last traded at $21.32, 396,197 shares changed hands during trading. An increase of 56% from the average session volume of 253,226 shares. The stock had previously closed at $19.49.

Several analysts recently issued reports on the company. Zacks Investment Research downgraded Accelerate Diagnostics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. BidaskClub raised Accelerate Diagnostics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. Piper Jaffray Companies reduced their price objective on Accelerate Diagnostics from $22.00 to $19.00 and set a “positive” rating on the stock in a research note on Friday, August 9th. Finally, ValuEngine downgraded Accelerate Diagnostics from a “buy” rating to a “hold” rating in a research note on Tuesday. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.67.

The company has a current ratio of 19.99, a quick ratio of 18.89 and a debt-to-equity ratio of 4.81. The stock has a 50 day simple moving average of $18.53 and a 200-day simple moving average of $19.55. The firm has a market cap of $1.06 billion, a P/E ratio of -13.14 and a beta of 2.72.

Accelerate Diagnostics (NASDAQ:AXDX) last released its quarterly earnings data on Thursday, August 8th. The medical research company reported ($0.38) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.02. Accelerate Diagnostics had a negative return on equity of 170.47% and a negative net margin of 1,293.91%. The business had revenue of $1.81 million for the quarter, compared to the consensus estimate of $2.71 million. As a group, equities analysts forecast that Accelerate Diagnostics Inc will post -1.58 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC bought a new stake in Accelerate Diagnostics in the 2nd quarter worth approximately $27,000. SRS Capital Advisors Inc. purchased a new position in shares of Accelerate Diagnostics in the 2nd quarter worth approximately $114,000. SG Americas Securities LLC purchased a new position in shares of Accelerate Diagnostics in the 2nd quarter worth approximately $132,000. Aperio Group LLC purchased a new position in shares of Accelerate Diagnostics in the 2nd quarter worth approximately $143,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Accelerate Diagnostics by 30,942.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,519 shares of the medical research company’s stock worth $137,000 after purchasing an additional 6,498 shares during the period. 54.02% of the stock is currently owned by institutional investors and hedge funds.

Accelerate Diagnostics Company Profile (NASDAQ:AXDX)

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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