ValuEngine cut shares of Accelerate Diagnostics (NASDAQ:AXDX) from a buy rating to a hold rating in a report released on Tuesday morning, ValuEngine reports.

Several other equities research analysts also recently weighed in on the stock. Piper Jaffray Companies lowered their target price on shares of Accelerate Diagnostics from $22.00 to $19.00 and set a positive rating for the company in a research note on Friday, August 9th. Zacks Investment Research downgraded shares of Accelerate Diagnostics from a buy rating to a hold rating in a research note on Wednesday, July 10th. Finally, BidaskClub upgraded shares of Accelerate Diagnostics from a sell rating to a hold rating in a research note on Wednesday, August 14th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $18.67.

NASDAQ AXDX opened at $21.28 on Tuesday. 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 firm’s 50 day moving average price is $18.53 and its 200-day moving average price is $19.55. Accelerate Diagnostics has a 52-week low of $10.23 and a 52-week high of $24.00.

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, beating the Zacks’ consensus estimate of ($0.40) by $0.02. The firm had revenue of $1.81 million for the quarter, compared to the consensus estimate of $2.71 million. Accelerate Diagnostics had a negative net margin of 1,293.91% and a negative return on equity of 170.47%. As a group, research analysts expect that Accelerate Diagnostics will post -1.58 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System raised its holdings in shares of Accelerate Diagnostics by 4.6% during the second quarter. State Board of Administration of Florida Retirement System now owns 17,807 shares of the medical research company’s stock worth $407,000 after purchasing an additional 790 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Accelerate Diagnostics during the second quarter worth $27,000. HighTower Advisors LLC increased its holdings in Accelerate Diagnostics by 28.5% in the second quarter. HighTower Advisors LLC now owns 12,687 shares of the medical research company’s stock valued at $289,000 after buying an additional 2,815 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Accelerate Diagnostics by 2.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 154,013 shares of the medical research company’s stock valued at $3,524,000 after buying an additional 3,736 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in Accelerate Diagnostics by 15.9% in the fourth quarter. Bank of America Corp DE now owns 28,477 shares of the medical research company’s stock valued at $327,000 after buying an additional 3,907 shares in the last quarter. 54.02% 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, 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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