AxoGen Inc. (AXGN) Upgraded by Lake Street Capital to Buy
Lake Street Capital upgraded shares of AxoGen Inc. (NASDAQ:AXGN) from a hold rating to a buy rating in a research note released on Tuesday morning. Lake Street Capital currently has $11.00 price objective on the stock, up from their prior price objective of $9.00.
Separately, Wedbush boosted their price target on AxoGen from $10.00 to $12.00 and gave the stock an outperform rating in a research note on Monday, November 7th.
AxoGen (NASDAQ:AXGN) traded up 2.89% during mid-day trading on Tuesday, hitting $8.90. The stock had a trading volume of 72,846 shares. The company has a 50-day moving average of $8.65 and a 200-day moving average of $7.62. The stock’s market cap is $292.79 million. AxoGen has a 12-month low of $4.52 and a 12-month high of $9.88.
AxoGen (NASDAQ:AXGN) last released its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.08) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.08). AxoGen had a negative return on equity of 292.94% and a negative net margin of 33.02%. On average, analysts anticipate that AxoGen will post ($0.38) earnings per share for the current fiscal year.
In other news, VP John P. Engels acquired 4,000 shares of the business’s stock in a transaction on Friday, October 7th. The shares were purchased at an average price of $7.50 per share, for a total transaction of $30,000.00. Following the completion of the purchase, the vice president now directly owns 98,425 shares of the company’s stock, valued at approximately $738,187.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy Mcbride Wendell acquired 13,333 shares of the business’s stock in a transaction on Friday, October 7th. The shares were purchased at an average price of $7.50 per share, for a total transaction of $99,997.50. Following the purchase, the director now directly owns 13,333 shares of the company’s stock, valued at $99,997.50. The disclosure for this purchase can be found here. Company insiders own 9.33% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. BlackRock Fund Advisors boosted its stake in shares of AxoGen by 1,049.1% in the second quarter. BlackRock Fund Advisors now owns 634,132 shares of the company’s stock valued at $4,363,000 after buying an additional 578,948 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of AxoGen by 61.5% in the second quarter. Vanguard Group Inc. now owns 775,448 shares of the company’s stock valued at $5,335,000 after buying an additional 295,294 shares during the last quarter. State Street Corp purchased a new stake in shares of AxoGen during the second quarter valued at about $1,885,000. Summit Partners Public Asset Management LLC purchased a new stake in shares of AxoGen during the third quarter valued at about $2,376,000. Finally, Waddell & Reed Financial Inc. purchased a new stake in shares of AxoGen during the second quarter valued at about $1,371,000. Hedge funds and other institutional investors own 54.43% of the company’s stock.
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