New outcomes data shows that the firm's test can help clinicians optimize antibiotic prescribing, but investment analysts have had mixed reactions.
The investment bank adjusted its December 2020 price target for Luminex's stock to $21 and for Accelerate Diagnostics' stock to $16.
The appointment of a former Roche executive as the firm's new COO is viewed as a significant event for a firm still in the early stages of driving adoption of its Pheno system.
The updated test now includes additional susceptibility testing and clinical interpretive breakpoints that are compliant with 2019 European guidance.
Of the 27 companies in the index, 12 firms' share prices retreated last month, 14 companies' stocks increased, and one firm's share value was flat.
Other big gainers last month included Accelerate Diagnostics and Natera, and share prices of 23 of the 27 companies in the index increased month over month.
The revenue increase was driven primarily by an increase in the sale of consumable test kits, and the firm added 75 commercially contracted instruments during Q1.
Industry executives said that clinical needs associated with antimicrobial resistance and sepsis are generating more interest in AST technologies.
VALUE-Dx involves six IVD companies and is being heralded by participants as an opportunity for competitors to work together to improve test adoption.
Many diagnostic firms saw gains in their stock prices last month as Invitae and NantHealth also saw healthy increases.