Accelerate Diagnostics (NASDAQ:AXDX) announced its quarterly earnings results on Tuesday. The medical research company reported ($0.41) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.41), Morningstar.com reports. Accelerate Diagnostics had a negative return on equity of 67.75% and a negative net margin of 1,405.87%. The business had revenue of $1.36 million during the quarter, compared to the consensus estimate of $2.89 million.
Accelerate Diagnostics stock traded down $1.88 during mid-day trading on Wednesday, hitting $14.42. 1,185,586 shares of the company’s stock traded hands, compared to its average volume of 252,879. Accelerate Diagnostics has a fifty-two week low of $13.25 and a fifty-two week high of $30.35. The company has a market capitalization of $875.79 million, a price-to-earnings ratio of -12.43 and a beta of 2.49. The company has a debt-to-equity ratio of 1.22, a current ratio of 27.12 and a quick ratio of 25.67.
AXDX has been the subject of several research reports. BidaskClub downgraded Accelerate Diagnostics from a “hold” rating to a “sell” rating in a report on Friday, October 5th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $24.00 price target on shares of Accelerate Diagnostics in a report on Tuesday, August 7th. JPMorgan Chase & Co. downgraded Accelerate Diagnostics from an “overweight” rating to a “neutral” rating and cut their price target for the company from $25.00 to $16.00 in a report on Wednesday. Finally, Zacks Investment Research raised Accelerate Diagnostics from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $21.67.
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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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