Brokerage firm JP Morgan Maintains its rating on Accelerate Diagnostics Inc(NASDAQ:AXDX). In a research note issued to the investors, the brokerage major Raises the price-target to $25.00 per share. The shares have been rated Overweight. The rating by JP Morgan was issued on Aug 9, 2016.
Accelerate Diagnostics Inc (AXDX) made into the market gainers list on Wednesdays trading session with the shares advancing 0.22% or 0.05 points. Due to strong positive momentum, the stock ended at $22.33, which is also near the day’s high of $23.5332. The stock began the session at $22.45 and the volume stood at 9,59,246 shares. The 52-week high of the shares is $23.8 and the 52 week low is $10.2901. The company has a current market capitalization of $1,144 M and it has 5,12,28,452 shares in outstanding.
Several Insider Transactions has been reported to the SEC. On Jul 1, 2016, Jack W Schuler (director 10% owner) purchased 90,147 shares at $13.97 per share price.Also, On Feb 10, 2016, Matthew Strobeck (director) purchased 20,000 shares at $11.52 per share price.On Feb 9, 2016, John Patience (director 10% owner) purchased 50,000 shares at $11.39 per share price, according to the Form-4 filing with the securities and exchange commission.
Accelerate Diagnostics Inc. is an in-vitro diagnostics company providing solutions to improve patient outcomes and lower healthcare costs through the rapid diagnosis of serious infections. The Company is focused on reducing the failure rate of initial antibiotic drug therapy by shortening lab turnaround time to approximately five hours rather than the two to three days required to deliver identification and susceptibility results. It has developed a diagnostic platform the Accelerate ID/AST System (the ID/AST System) intended for the rapid diagnosis of infectious pathogens. The ID/AST 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. Accelerate Diagnostics UK Limited is a subsidiary of the Company.