Accelerate Diagnostics Inc (NASDAQ:AXDX) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Friday.

Several other research firms have also weighed in on AXDX. BidaskClub upgraded shares of Accelerate Diagnostics from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. BTIG Research restated a “buy” rating and set a $34.00 price target on shares of Accelerate Diagnostics in a research report on Wednesday, May 17th. Zacks Investment Research upgraded shares of Accelerate Diagnostics from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Monday, May 8th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $32.00 price target (up previously from $30.00) on shares of Accelerate Diagnostics in a research report on Monday, June 5th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $33.00.

Shares of Accelerate Diagnostics (NASDAQ:AXDX) opened at 21.10 on Friday. Accelerate Diagnostics has a 1-year low of $19.20 and a 1-year high of $30.45. The stock’s 50 day moving average is $27.19 and its 200-day moving average is $25.69. The firm’s market cap is $1.17 billion.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its earnings results on Thursday, August 3rd. The medical research company reported ($0.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by $0.01. The firm had revenue of $0.70 million during the quarter, compared to the consensus estimate of $1.40 million. Accelerate Diagnostics had a negative return on equity of 62.52% and a negative net margin of 2,354.36%. Analysts expect that Accelerate Diagnostics will post ($1.20) earnings per share for the current year.

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In other Accelerate Diagnostics news, insider Steven Reichling sold 30,000 shares of the company’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 sale, the insider now directly owns 30,700 shares of the company’s stock, valued at $887,230. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 51.40% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. First Manhattan Co. acquired a new stake in Accelerate Diagnostics during the first quarter valued at approximately $129,000. CLS Investments LLC acquired a new stake in Accelerate Diagnostics during the second quarter valued at approximately $137,000. Legal & General Group Plc increased its stake in Accelerate Diagnostics by 0.3% in the first quarter. Legal & General Group Plc now owns 5,123 shares of the medical research company’s stock valued at $123,000 after buying an additional 15 shares during the period. SG Americas Securities LLC increased its stake in Accelerate Diagnostics by 16.8% in the first quarter. SG Americas Securities LLC now owns 5,885 shares of the medical research company’s stock valued at $142,000 after buying an additional 846 shares during the period. Finally, Stifel Financial Corp acquired a new stake in Accelerate Diagnostics during the first quarter valued at approximately $274,000. 38.54% of the stock is currently owned by institutional investors and hedge funds.

Accelerate Diagnostics Company Profile

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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