In a report released yesterday, Sean Lavin from BTIG maintained a Hold rating on Accelerate Diagnostics (AXDX). The company’s shares closed yesterday at $19.47.
Lavin wrote:
“Neutral AXDX reported Q4 revenue of $1.8M, in-line with the preannouncement. In Q4, the company added 133 commercially contracted placements vs. 22 in 4Q17; to clarify, commercial placements refer to customers that have agreed to install and run tests (may or may not be active users though we are not sure why they are no longer called evaluations). Following the company’s business shift to a reagent rental model, mgmt will disclose this metric as a measure of volume uptake going forward in lieu of evaluations and system conversions. On expectations for 2019, mgmt is targeting 300- 400 placements vs. the 202 in 2018 as a full transition to the rental model and more comprehensive body of positive studies may drive up volumes.”
According to TipRanks.com, Lavin is a 5-star analyst with an average return of 9.6% and a 58.5% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Establishment Labs Holdings Inc, Helius Medical Technologies, and Tactile Systems Technology.
Accelerate Diagnostics has an analyst consensus of Moderate Buy, with a price target consensus of $17.
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The company has a one-year high of $27.65 and a one-year low of $10.23. Currently, Accelerate Diagnostics has an average volume of 391.7K.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AXDX in relation to earlier this year.
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Accelerate Diagnostics, Inc. is an in vitro diagnostics company, which engages in the provision of solutions that improve patient outcomes and lower healthcare costs through the rapid diagnosis of serious infections.
