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. The company 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. It also provides the Accelerate PhenoTest, a test kit for the system, which provides identify and antibiotic susceptibility testing results for patients suspected of bacteremia or fungemia, both life-threatening conditions with high morbidity and mortality risk. The company was formerly known as Accelr8 Technology Corporation and changed its name to Accelerate Diagnostics, Inc. in December 2012. Accelerate Diagnostics, Inc. was incorporated in 1982 and is headquartered in Tucson, Arizona.
Accelerate Diagnostics Stock Up 14.4 %
NASDAQ:AXDX traded up $0.26 during mid-day trading on Wednesday, reaching $2.06. 479,977 shares of the stock were exchanged, compared to its average volume of 684,260. The company has a 50 day simple moving average of $1.20 and a 200-day simple moving average of $1.52. The stock has a market capitalization of $143.50 million, a P/E ratio of -1.94 and a beta of 1.51. Accelerate Diagnostics has a 1 year low of $0.50 and a 1 year high of $7.19.
Accelerate Diagnostics (NASDAQ:AXDX - Get Rating) last released its quarterly earnings results on Monday, May 16th. The medical research company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.32) by $0.07. The firm had revenue of $2.96 million for the quarter, compared to analysts' expectations of $2.90 million. During the same quarter in the prior year, the business earned ($0.41) EPS. As a group, research analysts predict that Accelerate Diagnostics will post -1.33 EPS for the current year.
Wall Street Analysts Forecast Growth
AXDX has been the topic of several recent research reports. Craig Hallum cut their price target on Accelerate Diagnostics to $1.00 and set an "underperform" rating on the stock in a report on Tuesday, May 17th. StockNews.com downgraded Accelerate Diagnostics from a "hold" rating to a "sell" rating in a report on Saturday, June 4th.
Insider Activity
In other news, CEO Jack Phillips sold 28,198 shares of the firm's stock in a transaction that occurred on Wednesday, June 22nd. The stock was sold at an average price of $0.91, for a total value of $25,660.18. Following the completion of the sale, the chief executive officer now directly owns 242,035 shares of the company's stock, valued at approximately $220,251.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 42.20% of the company's stock.