Accelerate Diagnostics Inc. (NASDAQ:AXDX) announced the completion of clinical data collection intended for submission to the FDA in conjunction with its de novo 510k request for premarket clearance of the Accelerate Pheno™ system and Accelerate Pheno™ BC kit for positive blood cultures. An overview of the data collected will be included in the previously announced presentation at the William Blair 36th Annual Growth Stock Conference. The Accelerate Pheno™ system and Accelerate PhenoTest™ BC kit were formerly referred to in generic terms as the Accelerate ID/AST System and Blood Culture Assay Kit.
Accelerate Diagnostics Equity Analysis
Accelerate Diagnostics Inc. (NASDAQ:AXDX) opened trading today as $16.87 and is trading in the range of 14.39-16.99 today. Accelerate Diagnostics’ current market cap stands at $864.05 million.
Compared to other peers in the Medical Laboratories & Research sector, Accelerate Diagnostics has outperformed in terms of quarterly revenue growth year over year at 10.64 vs. the industry average of 0.16.
Accelerate Diagnostics is currently covered by 4 Wall Street analysts. The mean target price is $22.67 according to First Call. This presents a solid upside to the current price of the equity. The Mean Recommendation sits at 1.5 which is based on 2 Strong Buy, 2 Buy ratings.
The most recent analyst actions consisted of JP Morgan initiating the stock on March 24th
The current quarter EPS consensus estimate is -0.31 with revenue estimates of 370.00K. Accelerate Diagnostics reported actual earnings last quarter of -0.29 which fails to beat the -0.28 consensus estimate, a -3.60% surprise.
Accelerate Diagnostics, Inc. focuses on developing and commercializing instrumentation for the rapid identification and antibiotic susceptibility testing of infectious pathogens. The company is developing BACcel system, a rapid diagnostic platform for rapid diagnosis in life-threatening infectious pathogens. It also develops and licenses OptiChem surface coatings for use in microarraying components. Accelerate Diagnostics, Inc. has a research collaboration with U.S. Centers for Disease Control and Prevention to develop tests for the rapid analysis of antibiotic-resistant biothreat agents based on Accelerates high-speed identification and antibiotic susceptibility testing platform. The company was formerly known as Accelr8 Technology Corporation and changed its name to Accelerate Diagnostics, Inc. in December 2012. Accelerate Diagnostics, Inc. was founded in 1982 and is based in Tucson, Arizona.