Published On: Mon, Sep 12th, 2016

Accelerate Diagnostics Inc. (AXDX) Stock Rating Upgraded by Zacks Investment Research

Accelerate Diagnostics Inc. (NASDAQ:AXDX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.
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 research analysts also recently issued research reports about the stock. BTIG Research reissued a “buy” rating and set a $26.00 price objective on shares of Accelerate Diagnostics in a research report on Sunday, May 15th. JPMorgan Chase & Co. boosted their price objective on shares of Accelerate Diagnostics from $17.00 to $25.00 and gave the company an “overweight” rating in a research report on Tuesday, August 9th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and set a $25.00 price objective on shares of Accelerate Diagnostics in a research report on Monday, May 16th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $25.33.

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Shares of Accelerate Diagnostics (NASDAQ:AXDX) traded up 4.84% on Monday, hitting $25.36. The stock had a trading volume of 396,599 shares. The stock’s market cap is $1.30 billion. Accelerate Diagnostics has a 12 month low of $10.29 and a 12 month high of $26.12. The company has a 50 day moving average price of $21.73 and a 200-day moving average price of $15.84.
In other news, Director Jack W. Schuler bought 90,147 shares of the stock in a transaction that occurred on Thursday, June 30th. The shares were bought at an average price of $13.95 per share, for a total transaction of $1,257,550.65. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jack W. Schuler bought 14,033 shares of the stock in a transaction that occurred on Tuesday, June 14th. The shares were purchased at an average price of $13.67 per share, for a total transaction of $191,831.11. The disclosure for this purchase can be found here. Corporate insiders own 51.40% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Institutional Trust Company N.A. boosted its position in Accelerate Diagnostics by 13.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 641,578 shares of the company’s stock worth $9,219,000 after buying an additional 76,154 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Accelerate Diagnostics by 13.8% in the first quarter. Nuveen Asset Management LLC now owns 620,541 shares of the company’s stock valued at $8,917,000 after buying an additional 75,220 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Accelerate Diagnostics during the first quarter valued at approximately $1,019,000. BlackRock Fund Advisors boosted its stake in shares of Accelerate Diagnostics by 9.3% in the first quarter. BlackRock Fund Advisors now owns 585,534 shares of the company’s stock valued at $8,414,000 after buying an additional 49,699 shares during the last quarter. Finally, A.R.T. Advisors LLC bought a new stake in shares of Accelerate Diagnostics during the first quarter valued at approximately $427,000. Institutional investors own 35.62% of the company’s stock.
About Accelerate Diagnostics
Accelerate Diagnostics, Inc is an in vitro diagnostics company engaged in providing solutions that improve patient outcomes and lower healthcare costs through the diagnosis of serious infections. The Company’s technology platform is built to address these challenges by delivering testing of infectious pathogens in various patient sample types.

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