AxoGen (NASDAQ:AXGN) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday, January 11th.
Several other brokerages have also recently commented on AXGN. Cantor Fitzgerald set a $37.00 target price on shares of AxoGen and gave the stock a “buy” rating in a report on Monday, January 8th. Jefferies Group began coverage on shares of AxoGen in a research report on Thursday, November 30th. They set a “buy” rating and a $35.00 price target on the stock. Leerink Swann upped their price target on shares of AxoGen from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 21st. Lake Street Capital upped their price target on shares of AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, November 21st. Finally, Wedbush reissued a “buy” rating and issued a $27.00 price objective (up from $22.00) on shares of AxoGen in a research report on Tuesday, November 21st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. AxoGen currently has an average rating of “Buy” and a consensus price target of $29.33.
AxoGen (NASDAQ AXGN) opened at $27.25 on Thursday. The stock has a market cap of $930.76, a P/E ratio of -68.13 and a beta of 0.40. AxoGen has a 1-year low of $8.75 and a 1-year high of $31.70. The company has a debt-to-equity ratio of 1.93, a quick ratio of 2.95 and a current ratio of 3.55.
AxoGen (NASDAQ:AXGN) last released its quarterly earnings results on Wednesday, November 1st. The medical equipment provider reported ($0.06) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.06). The company had revenue of $16.05 million during the quarter, compared to analysts’ expectations of $15.55 million. AxoGen had a negative net margin of 24.74% and a negative return on equity of 91.00%. The company’s revenue for the quarter was up 43.2% compared to the same quarter last year. equities analysts forecast that AxoGen will post -0.31 EPS for the current year.
In other AxoGen news, Director Jamie Mark Grooms sold 38,405 shares of the stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $26.35, for a total transaction of $1,011,971.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $22,701,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,293,990 shares of company stock worth $26,494,898. 9.33% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in shares of AxoGen by 80.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 160,354 shares of the medical equipment provider’s stock valued at $2,685,000 after purchasing an additional 71,609 shares in the last quarter. Citadel Advisors LLC bought a new position in AxoGen in the 2nd quarter valued at approximately $947,000. Menta Capital LLC raised its holdings in AxoGen by 7.1% in the 2nd quarter. Menta Capital LLC now owns 116,845 shares of the medical equipment provider’s stock valued at $1,957,000 after buying an additional 7,777 shares during the last quarter. New York State Common Retirement Fund raised its holdings in AxoGen by 26.6% in the 2nd quarter. New York State Common Retirement Fund now owns 31,400 shares of the medical equipment provider’s stock valued at $526,000 after buying an additional 6,599 shares during the last quarter. Finally, Columbia Partners L L C Investment Management raised its holdings in AxoGen by 11.8% in the 2nd quarter. Columbia Partners L L C Investment Management now owns 286,146 shares of the medical equipment provider’s stock valued at $4,792,000 after buying an additional 30,176 shares during the last quarter. Institutional investors own 66.00% of the company’s stock.
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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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