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Accelerate Diagnostics slips on bearish WDR report

  • Thinly traded Accelerate Diagnostics (AXDX -0.3%) slips in early trade, albeit on turnover of only 80K shares, on the heels of a bearish report from SA Contributor White Diamond Research (WDR).
  • WDR believes the company's flagship Pheno system is only a niche product since design limitations prevent it from replacing tissue culture.
  • H1 sales were a modest $3.6M, up 43% from a year ago, but well below sales that would justify its $1B market cap.
  • WDR sees almost 70% downside risk in the stock with its $6 price target.

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Accelerate Diagnostics, Inc.