AxoGen (AXGN) Rating Reiterated by Wedbush

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 company’s 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.

Analyst Recommendations for AxoGen (NASDAQ:AXGN)

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