Wedbush reissued their buy rating on shares of AxoGen (NASDAQ:AXGN) in a research report report published on Tuesday, November 21st. They currently have a $27.00 target price on the medical equipment provider’s stock, up from their previous target price of $22.00.
AXGN has been the subject of several other reports. BidaskClub cut AxoGen from a buy rating to a hold rating in a report on Thursday, August 3rd. Leerink Swann began coverage on AxoGen in a report on Monday, July 31st. They issued an outperform rating and a $22.00 target price for the company. Cantor Fitzgerald reiterated a buy rating and issued a $18.00 target price on shares of AxoGen in a report on Monday, August 21st. Finally, Roth Capital restated a buy rating and set a $21.00 price objective (up from $18.00) on shares of AxoGen in a research note on Tuesday, September 12th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $26.17.
AxoGen (AXGN) traded down $0.20 on Tuesday, reaching $26.10. The company had a trading volume of 320,107 shares, compared to its average volume of 215,691. AxoGen has a one year low of $8.15 and a one year high of $27.60. The company has a debt-to-equity ratio of 1.93, a current ratio of 3.55 and a quick ratio of 2.95.
AxoGen (NASDAQ:AXGN) last posted its quarterly earnings data on Wednesday, November 1st. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.06). AxoGen had a negative return on equity of 91.00% and a negative net margin of 24.74%. The company had revenue of $16.05 million during the quarter, compared to analysts’ expectations of $15.55 million. The company’s revenue was up 43.2% on a year-over-year basis. research analysts forecast that AxoGen will post -0.31 earnings per share for the current fiscal year.
In other news, Director Guido J. Neels sold 1,150,000 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $19.74, for a total value of $22,701,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert James Rudelius sold 16,143 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $18.00, for a total value of $290,574.00. Following the completion of the transaction, the director now directly owns 43,273 shares in the company, valued at $778,914. The disclosure for this sale can be found here. Corporate insiders own 9.33% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its holdings in AxoGen by 8.7% during the first quarter. Bank of America Corp DE now owns 10,183 shares of the medical equipment provider’s stock worth $106,000 after acquiring an additional 814 shares during the period. Parametric Portfolio Associates LLC grew its holdings in AxoGen by 0.9% during the first quarter. Parametric Portfolio Associates LLC now owns 10,843 shares of the medical equipment provider’s stock worth $113,000 after acquiring an additional 93 shares during the period. Thompson Davis & CO. Inc. grew its holdings in AxoGen by 575.0% during the second quarter. Thompson Davis & CO. Inc. now owns 6,750 shares of the medical equipment provider’s stock worth $113,000 after acquiring an additional 5,750 shares during the period. American International Group Inc. grew its holdings in AxoGen by 7.7% during the first quarter. American International Group Inc. now owns 14,941 shares of the medical equipment provider’s stock worth $156,000 after acquiring an additional 1,068 shares during the period. Finally, UBS Group AG grew its holdings in AxoGen by 8.3% during the first quarter. UBS Group AG now owns 16,141 shares of the medical equipment provider’s stock worth $169,000 after acquiring an additional 1,234 shares during the period. 66.00% of the stock is currently owned by hedge funds and other institutional investors.
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AxoGen Company Profile
AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The companys surgical nerve repair solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
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