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Fly News Breaks for January 14, 2020
Jan 14, 2020 | 05:17 EDT
Piper Sandler analyst William Quirk raised his price target for Accelerate Diagnostics to $20 from $16 and reiterates an Overweight rating on the shares. While the company's preliminary Q4 revenue came in below consensus, it posted 137 commercially contracted instruments in the quarter, well above expectations of 92 placements, Quirk tells investors in a research note. The analyst is encouraged by the number of placements despite the revenue miss and he continues to believe Jack Phillips will focus on improving the go-live process and reduce the time to install, which will drive the consumables ramp.
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