AxoGen, Inc. (AXGN) Given Consensus Rating of “Buy” by Brokerages
AxoGen, Inc. (NASDAQ:AXGN) has received an average rating of “Buy” from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $17.40.
A number of equities analysts have commented on the company. Leerink Swann restated an “outperform” rating and issued a $23.00 target price (up from $22.00) on shares of AxoGen in a research note on Saturday, September 30th. Roth Capital restated a “buy” rating and issued a $21.00 target price (up from $18.00) on shares of AxoGen in a research note on Tuesday, September 12th. BidaskClub cut AxoGen from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $18.00 price target on shares of AxoGen in a report on Monday, August 21st.
AxoGen (AXGN) traded up 2.92% during mid-day trading on Friday, reaching $19.40. The company’s stock had a trading volume of 461,635 shares. The firm’s market capitalization is $644.86 million. The stock’s 50-day moving average is $18.38 and its 200-day moving average is $15.26. AxoGen has a 12 month low of $7.65 and a 12 month high of $19.72.
AxoGen (NASDAQ:AXGN) last issued its earnings results on Wednesday, August 2nd. The medical equipment provider reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.02. AxoGen had a negative return on equity of 114.64% and a negative net margin of 27.50%. The company had revenue of $15.20 million during the quarter, compared to the consensus estimate of $14.40 million. During the same period in the previous year, the firm posted ($0.09) earnings per share. AxoGen’s quarterly revenue was up 46.2% compared to the same quarter last year. On average, equities analysts anticipate that AxoGen will post ($0.31) EPS for the current year.
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In other news, Director Robert James Rudelius sold 16,143 shares of AxoGen stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $18.00, for a total transaction of $290,574.00. Following the sale, the director now owns 43,273 shares of the company’s stock, valued at $778,914. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 9.33% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AXGN. Russell Investments Group Ltd. raised its holdings in AxoGen by 238.7% during the second quarter. Russell Investments Group Ltd. now owns 611,678 shares of the medical equipment provider’s stock worth $10,245,000 after purchasing an additional 431,057 shares in the last quarter. Castleark Management LLC bought a new stake in AxoGen during the second quarter worth approximately $5,426,000. Lyon Street Capital LLC bought a new stake in AxoGen during the first quarter worth approximately $2,166,000. Renaissance Technologies LLC bought a new stake in AxoGen during the first quarter worth approximately $1,473,000. Finally, EAM Investors LLC raised its holdings in AxoGen by 86.7% during the second quarter. EAM Investors LLC now owns 293,880 shares of the medical equipment provider’s stock worth $4,922,000 after purchasing an additional 136,453 shares in the last quarter. 66.47% of the stock is currently owned by institutional investors.
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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