AxoGen, Inc. (NASDAQ:AXGN) has been given an average rating of “Buy” by the ten brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $31.71.
Several equities analysts have recently commented on AXGN shares. Jefferies Group started coverage on AxoGen in a report on Thursday, November 30th. They set a “buy” rating and a $35.00 target price for the company. Cantor Fitzgerald set a $37.00 target price on AxoGen and gave the company a “buy” rating in a report on Monday, January 8th. BidaskClub lowered AxoGen from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 11th. Lake Street Capital set a $38.00 target price on AxoGen and gave the company a “buy” rating in a report on Friday, March 2nd. Finally, Wedbush reaffirmed a “buy” rating and set a $27.00 target price (up from $22.00) on shares of AxoGen in a report on Tuesday, November 21st.
In related news, CFO Jamie Mark Grooms sold 95,712 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $26.84, for a total value of $2,568,910.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 207,812 shares of company stock valued at $5,604,984 over the last three months. Corporate insiders own 9.33% of the company’s stock.
A number of hedge funds have recently modified their holdings of AXGN. Wells Fargo & Company MN grew its holdings in AxoGen by 17.2% in the 2nd quarter. Wells Fargo & Company MN now owns 46,745 shares of the medical equipment provider’s stock worth $783,000 after buying an additional 6,848 shares in the last quarter. Alliancebernstein L.P. bought a new position in AxoGen in the 2nd quarter worth approximately $317,000. Nationwide Fund Advisors grew its holdings in AxoGen by 5.5% in the 2nd quarter. Nationwide Fund Advisors now owns 14,874 shares of the medical equipment provider’s stock worth $249,000 after buying an additional 774 shares in the last quarter. New York State Common Retirement Fund grew 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 worth $526,000 after buying an additional 6,599 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in AxoGen by 7.8% in the 2nd quarter. Northern Trust Corp now owns 308,360 shares of the medical equipment provider’s stock worth $5,165,000 after buying an additional 22,319 shares in the last quarter. 68.01% of the stock is owned by institutional investors and hedge funds.
AxoGen (NASDAQ AXGN) traded down $0.90 during trading hours on Wednesday, hitting $34.45. The stock had a trading volume of 297,397 shares, compared to its average volume of 313,415. The company has a market capitalization of $1,219.46, a price-to-earnings ratio of -114.41 and a beta of 0.10. AxoGen has a 52 week low of $9.70 and a 52 week high of $35.42. The company has a debt-to-equity ratio of 0.79, a current ratio of 4.07 and a quick ratio of 3.53.
AxoGen (NASDAQ:AXGN) last posted its earnings results on Wednesday, February 28th. The medical equipment provider reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.02. The company had revenue of $16.97 million during the quarter, compared to analyst estimates of $16.38 million. AxoGen had a negative return on equity of 70.63% and a negative net margin of 17.29%. The business’s revenue was up 48.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.10) earnings per share. sell-side analysts forecast that AxoGen will post -0.28 EPS for the current fiscal year.
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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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