Accelerate Diagnostics price target lowered to $1 from $2 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Accelerate Diagnostics to $1 from $2 and keeps a Hold rating on the shares. As outlined in the preliminary release, Q4 results continued to present challenges for Accelerate, the firm says. Specifically, Beckton Dickinson still has yet to gain momentum, few Pheno systems were placed, consumable sales declined quarter-over-quarter, and the capital position remains tight – even with a $15M equity raise in January. One bright spot in the quarter was the continued progress on Wave, says Craig-Hallum.