Accelerate Diagnostics (NASDAQ:AXDX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $15.00 price target on the medical research company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 15.21% from the stock’s previous close.
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. “
Other equities analysts also recently issued research reports about the stock. Piper Jaffray Companies reissued a “buy” rating and set a $24.00 price objective on shares of Accelerate Diagnostics in a research note on Tuesday, August 7th. BidaskClub raised shares of Accelerate Diagnostics from a “strong sell” rating to a “sell” rating in a research note on Saturday, November 3rd. Finally, JPMorgan Chase & Co. downgraded shares of Accelerate Diagnostics from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $25.00 to $16.00 in a research note on Wednesday, November 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $20.00.
Shares of AXDX traded down $0.17 on Tuesday, hitting $13.02. 219,367 shares of the stock traded hands, compared to its average volume of 258,172. The company has a debt-to-equity ratio of 1.52, a quick ratio of 33.54 and a current ratio of 35.26. The company has a market capitalization of $731.68 million, a price-to-earnings ratio of -11.22 and a beta of 2.49. Accelerate Diagnostics has a 1 year low of $12.70 and a 1 year high of $30.35.
Accelerate Diagnostics (NASDAQ:AXDX) last announced its quarterly earnings data on Tuesday, November 6th. The medical research company reported ($0.41) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.41). The business had revenue of $1.36 million for the quarter, compared to the consensus estimate of $2.89 million. Accelerate Diagnostics had a negative net margin of 1,365.75% and a negative return on equity of 81.76%. Equities analysts expect that Accelerate Diagnostics will post -1.61 EPS for the current fiscal year.
In related news, Director John Patience purchased 10,000 shares of the business’s stock in a transaction on Thursday, November 8th. The shares were bought at an average price of $14.96 per share, with a total value of $149,600.00. Following the completion of the purchase, the director now directly owns 44,670 shares in the company, valued at approximately $668,263.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 49.30% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Credit Suisse AG raised its stake in Accelerate Diagnostics by 5.0% during the third quarter. Credit Suisse AG now owns 3,653,892 shares of the medical research company’s stock worth $83,856,000 after purchasing an additional 173,289 shares during the period. BlackRock Inc. raised its stake in Accelerate Diagnostics by 2.0% during the third quarter. BlackRock Inc. now owns 1,785,849 shares of the medical research company’s stock worth $40,983,000 after purchasing an additional 34,958 shares during the period. Vanguard Group Inc. raised its stake in Accelerate Diagnostics by 0.8% during the third quarter. Vanguard Group Inc. now owns 1,291,417 shares of the medical research company’s stock worth $29,638,000 after purchasing an additional 10,601 shares during the period. Blair William & Co. IL raised its stake in Accelerate Diagnostics by 36.2% during the third quarter. Blair William & Co. IL now owns 878,655 shares of the medical research company’s stock worth $20,165,000 after purchasing an additional 233,408 shares during the period. Finally, Chicago Capital LLC raised its stake in Accelerate Diagnostics by 17.1% during the third quarter. Chicago Capital LLC now owns 630,053 shares of the medical research company’s stock worth $14,460,000 after purchasing an additional 91,862 shares during the period. 47.13% 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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