Accolade (NASDAQ:ACCD) Downgraded by Leerink Partnrs to "Hold"

Accolade (NASDAQ:ACCD - Get Free Report) was downgraded by investment analysts at Leerink Partnrs from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other equities analysts also recently issued reports on the company. Wells Fargo & Company cut their price objective on Accolade from $7.00 to $6.00 and set an "equal weight" rating for the company in a research report on Friday, October 11th. Canaccord Genuity Group reaffirmed a "hold" rating on shares of Accolade in a research note on Wednesday. Raymond James restated a "market perform" rating on shares of Accolade in a report on Thursday. Needham & Company LLC reissued a "hold" rating on shares of Accolade in a research report on Wednesday. Finally, Barclays reduced their target price on shares of Accolade from $5.50 to $5.00 and set an "equal weight" rating for the company in a report on Wednesday, October 9th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $7.55.

Accolade Stock Down 0.4 %

Shares of ACCD traded down $0.03 during trading hours on Wednesday, hitting $6.83. 11,364,956 shares of the company were exchanged, compared to its average volume of 6,673,309. Accolade has a 52 week low of $3.08 and a 52 week high of $15.21. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 2.72. The firm's 50 day moving average is $3.73 and its 200-day moving average is $3.84. The company has a market cap of $550.07 million, a PE ratio of -6.63 and a beta of 2.08.

Accolade (NASDAQ:ACCD - Get Free Report) last announced its earnings results on Friday, January 10th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.31) by $0.01. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. On average, equities research analysts forecast that Accolade will post -0.92 EPS for the current fiscal year.

Insider Activity at Accolade

In other news, CEO Rajeev Singh sold 13,357 shares of the company's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total transaction of $48,085.20. Following the transaction, the chief executive officer now directly owns 814,316 shares of the company's stock, valued at $2,931,537.60. This represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 40,881 shares of company stock valued at $144,987 in the last 90 days. 8.20% of the stock is owned by corporate insiders.

Institutional Trading of Accolade

Several institutional investors and hedge funds have recently modified their holdings of the business. Mission Creek Capital Partners Inc. purchased a new stake in shares of Accolade during the third quarter valued at approximately $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Accolade in the third quarter worth $46,000. Wolverine Trading LLC bought a new stake in Accolade in the 3rd quarter worth approximately $51,000. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Accolade by 1,144.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 20,913 shares of the company's stock valued at $81,000 after purchasing an additional 19,232 shares during the period. Finally, Intech Investment Management LLC bought a new position in Accolade in the 3rd quarter worth $96,000. Hedge funds and other institutional investors own 84.99% of the company's stock.

About Accolade

Accolade, Inc, together with its subsidiaries, engages in the development and provision of personalized and technology-enabled solutions that help people to understand, navigate, and utilize the healthcare system and their workplace benefits in the United States. The company offers a platform with cloud-based intelligent technology and multimodal support from a team of advocates and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women's health specialists, case management specialists, expert medical opinion providers, and primary care physicians.