Wall Street brokerages expect Accelerate Diagnostics Inc (NASDAQ:AXDX) to post $2.89 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Accelerate Diagnostics’ earnings, with estimates ranging from $1.90 million to $3.50 million. Accelerate Diagnostics posted sales of $830,000.00 in the same quarter last year, which would indicate a positive year over year growth rate of 248.2%. The company is expected to report its next earnings report on Thursday, November 1st.

According to Zacks, analysts expect that Accelerate Diagnostics will report full year sales of $11.90 million for the current year, with estimates ranging from $10.50 million to $12.92 million. For the next financial year, analysts expect that the firm will report sales of $49.18 million per share, with estimates ranging from $45.31 million to $51.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Accelerate Diagnostics.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings results on Monday, August 6th. The medical research company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06). Accelerate Diagnostics had a negative return on equity of 67.75% and a negative net margin of 1,405.87%. The firm had revenue of $1.69 million for the quarter, compared to analyst estimates of $2.17 million.

A number of research analysts recently weighed in on the company. BidaskClub raised Accelerate Diagnostics from a “hold” rating to a “buy” rating in a research note on Thursday, June 21st. Craig Hallum assumed coverage on Accelerate Diagnostics in a research note on Thursday, May 24th. They set a “hold” rating and a $25.00 price target on the stock. Piper Jaffray Companies reaffirmed a “buy” rating and set a $24.00 price target on shares of Accelerate Diagnostics in a research note on Tuesday, August 7th. ValuEngine raised Accelerate Diagnostics from a “sell” rating to a “hold” rating in a research note on Monday, June 11th. Finally, Zacks Investment Research downgraded Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $24.50.

AXDX stock opened at $22.05 on Monday. Accelerate Diagnostics has a fifty-two week low of $16.75 and a fifty-two week high of $30.35. The company has a debt-to-equity ratio of 1.22, a quick ratio of 25.67 and a current ratio of 27.12. The company has a market cap of $1.20 billion, a P/E ratio of -19.01 and a beta of 2.02.

Institutional investors have recently modified their holdings of the company. Thompson Investment Management Inc. raised its stake in shares of Accelerate Diagnostics by 10.6% in 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 last quarter. Northern Trust Corp raised its stake in shares of Accelerate Diagnostics by 2.8% in the first quarter. Northern Trust Corp now owns 342,201 shares of the medical research company’s stock worth $7,819,000 after purchasing an additional 9,278 shares during the last quarter. Cowen Inc. purchased a new stake in shares of Accelerate Diagnostics in the first quarter worth approximately $267,000. C WorldWide Group Holding A S purchased a new stake in shares of Accelerate Diagnostics in the second quarter worth approximately $4,110,000. Finally, CIBC Private Wealth Group LLC raised its stake in shares of Accelerate Diagnostics by 33.8% in 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 last quarter. 46.80% of the stock is owned by hedge funds and other institutional investors.

Accelerate Diagnostics Company Profile

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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Earnings History and Estimates for Accelerate Diagnostics (NASDAQ:AXDX)

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