AxoGen, Inc. (NASDAQ:AXGN) – Equities researchers at Cantor Fitzgerald cut their FY2018 earnings per share estimates for AxoGen in a report issued on Sunday, according to Zacks Investment Research. Cantor Fitzgerald analyst C. Bijou now anticipates that the medical equipment provider will post earnings of ($0.28) per share for the year, down from their prior estimate of ($0.27). Cantor Fitzgerald currently has a “Buy” rating and a $37.00 target price on the stock.
AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Wednesday, February 28th. The medical equipment provider reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. AxoGen had a negative return on equity of 70.63% and a negative net margin of 17.29%. The business had revenue of $16.97 million for the quarter, compared to analysts’ expectations of $16.38 million. During the same period in the prior year, the firm earned ($0.10) EPS. The business’s quarterly revenue was up 48.7% on a year-over-year basis.
Several other analysts have also recently commented on AXGN. Wedbush restated a “buy” rating and issued a $27.00 target price (up from $22.00) on shares of AxoGen in a research report on Tuesday, November 21st. Lake Street Capital raised their target price on AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, November 21st. Leerink Swann raised their target price on AxoGen from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, November 21st. Jefferies Group started coverage on AxoGen in a research report on Thursday, November 30th. They issued a “buy” rating and a $35.00 target price on the stock. Finally, BidaskClub cut AxoGen from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 11th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $31.71.
AxoGen (AXGN) traded up $0.55 on Wednesday, reaching $35.70. The company had a trading volume of 193,791 shares, compared to its average volume of 308,082. AxoGen has a 12-month low of $9.70 and a 12-month high of $36.15. The company has a current ratio of 4.07, a quick ratio of 3.53 and a debt-to-equity ratio of 0.79. The firm has a market cap of $1,188.42, a PE ratio of -119.00 and a beta of 0.10.
Hedge funds and other institutional investors have recently modified their holdings of the business. Paloma Partners Management Co bought a new position in AxoGen during the 4th quarter valued at $215,000. Guggenheim Capital LLC bought a new position in AxoGen during the 4th quarter valued at $228,000. Valeo Financial Advisors LLC bought a new position in AxoGen during the 3rd quarter valued at $244,000. Nationwide Fund Advisors boosted its stake in AxoGen by 5.5% during the 2nd quarter. Nationwide Fund Advisors now owns 14,874 shares of the medical equipment provider’s stock valued at $249,000 after purchasing an additional 774 shares in the last quarter. Finally, Gotham Asset Management LLC bought a new position in AxoGen during the 4th quarter valued at $249,000. 68.01% of the stock is owned by hedge funds and other institutional investors.
In other AxoGen news, CFO Jamie Mark Grooms sold 10,300 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $26.21, for a total transaction of $269,963.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 169,407 shares of company stock valued at $4,593,013. 9.33% of the stock is currently owned by corporate insiders.
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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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