Accelerate could have 'transformational year' in 2019, says Piper Jaffray
After traveling with management, Piper Jaffray analyst William Quirk believes 2019 could be a "transformational year" for Accelerate Diagnostics' business. Management was upbeat, which reflects ongoing success placing Pheno's following their mix shift towards more reagent rentals in Q3 of 2018, Quirk tells investors in a research note. A focus for the company is reducing the time from placement to revenue generation from the current six months down to three months, targeted for year-end 2019, adds the analyst. He adds that while Accelerate's launch has not gone according to plan for several reasons, management was more enthusiastic than in recent meetings. Quirk reiterates an Overweight rating on Accelerate Diagnostics with a $22 price target.