FDA’s Decision Boosts Accelerate Diagnostics (AXDX); Analysts See Upside in The GEO Group (GEO)
Shares of Accelerate Diagnostics Inc. (Nasdaq:AXDX) climbed over 16% to touch a new 52-week high in after-hours trading Thursday as the U.S. Food and Drug Administration (FDA) said that it has decided to allow marketing of its PhenoTest BC Kit – a multiplexed in vitro diagnostic test for use with the company’s Pheno System – for identification and antibiotic susceptibility testing of organisms that cause bloodstream infections.
AXDX stock finished the regular session in positive territory by 1.23% (or +$0.30) at $24.75 with a total volume of 147,300 shares traded.
Accelerate Diagnostics, which provides solutions for the diagnosis of serious infections, has 51.44M shares outstanding. At close on Thursday, the vitro diagnostics company had a market capitalization of $1.29B and AXDX stock one-year range was between $10.87 and $28.50 per share
Analysts at Canaccord Genuity reiterated a Buy rating and raised their price target on The GEO Group Inc. (NYSE:GEO) shares from $43.00 to $52.00, suggesting a potential upside of 9.77% from the stock’s closing price on Thursday of $47.37
A couple days ago, GEO reported in its financial results fourth-quarter 2016 revenues of $566.6 million, a 13.29@ increase year over year, and net income of $49.4 million, or $0.66 per diluted share, compared to net income of $44.1 million, or $0.59 per diluted share in the same period the prior year.
The GEO Group, which provides government-outsourced services specializing in the management of correctional, detention, and re-entry facilities, has 75.01M shares outstanding, market capitalization (intraday) of $3.55B and GEO stock 52-week range is from $16.26 to $47.87 per share.
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