Citron Reiterates $1 Target On Accelerate Diagnostics

Shares of Accelerate Diagnostics Inc (NASDAQ: AXDX) plunged to a new 52-week low of $13.78 on Wednesday after Citron Research reiterated a $1 price target on the stock.

Accelerate Diagnostics is an in-vitro diagnostics company providing solutions to improve patient outcomes and lower healthcare costs through the rapid diagnosis of serious infections.

Citron Research argued back in March, 2015 that Accelerate Diagnostics is a "controversial stock" with no "viable" commercial product on the horizon after 11 years of "unfulfilled promises."

The research report placed a $1.00 per share price target within 18 months.

Citron Research took to Twitter on Wednesday and compared Accelerate Diagnostics to Theranos, a blood-testing startup company that has been investigated by U.S. health regulators.

Citron believes that $AXDX is Theranos part deux. We reiterate our $1 price target For those who forgot the story https://t.co/VRqdoDyOo3

— Citron Research (@CitronResearch) January 20, 2016