JPMorgan analyst Tycho Peterson downgraded Accelerate Diagnostics to Neutral from Overweight and lowered his price target for the shares to $16 from $25. The company last night announced another significant miss despite again processing record-high system placement as it continues to be bottlenecked by hospital budget constraints, Peterson tells investors in a post-earnings research note. Peterson, who remains encouraged by the long-term potential of the flagship Pheno instrument, says the uptake post-launch a year ago have been much weaker than originally anticipated. In addition, despite expectations for the severe bacterial pneumonia test to start clinical trial testing in Q3, Accelerate registered "yet another delay" due to FDA pushback tied to the lack of reproducibility, and now expects to start the clinical trial in Q1 of 2019, the analyst adds. He downgrades the shares to Neutral citing "another disappointing quarter" with "yet another unexpected pipeline delay."