AxoGen, Inc. (NASDAQ:AXGN) had its price target hoisted by analysts at Leerink Swann from $26.00 to $30.00 in a research note issued to investors on Tuesday. The brokerage currently has an “outperform” rating on the medical equipment provider’s stock. Leerink Swann’s price target suggests a potential upside of 23.46% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. BidaskClub cut shares of AxoGen from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Lake Street Capital increased their price objective on shares of AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday. Wedbush reissued a “buy” rating and issued a $27.00 target price (up from $22.00) on shares of AxoGen in a report on Tuesday. Roth Capital restated a “buy” rating and issued a $21.00 price target (up from $18.00) on shares of AxoGen in a research report on Tuesday, September 12th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $18.00 price target on shares of AxoGen in a research report on Monday, August 21st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $24.40.

AxoGen (NASDAQ AXGN) traded up $0.70 during trading hours on Tuesday, hitting $24.30. 322,000 shares of the stock were exchanged, compared to its average volume of 208,513. AxoGen has a 12-month low of $8.05 and a 12-month high of $25.15. The company has a current ratio of 3.55, a quick ratio of 2.95 and a debt-to-equity ratio of 1.93.

AxoGen (NASDAQ:AXGN) last posted its earnings results on Wednesday, November 1st. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.06). The business had revenue of $16.05 million for 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 business’s quarterly revenue was up 43.2% compared to the same quarter last year. analysts forecast that AxoGen will post -0.31 EPS for the current fiscal year.

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In other AxoGen news, Director Guido J. Neels sold 1,150,000 shares of AxoGen stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $19.74, for a total value of $22,701,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert James Rudelius sold 16,143 shares of AxoGen stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $18.00, for a total value of $290,574.00. Following the completion of the transaction, the director now owns 43,273 shares in the company, valued at approximately $778,914. The disclosure for this sale can be found here. Insiders own 9.33% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Pura Vida Investments LLC grew its stake in shares of AxoGen by 27.8% during the third quarter. Pura Vida Investments LLC now owns 229,278 shares of the medical equipment provider’s stock worth $4,437,000 after acquiring an additional 49,909 shares during the last quarter. Neuberger Berman Group LLC boosted its position in AxoGen by 133.3% in the third quarter. Neuberger Berman Group LLC now owns 28,000 shares of the medical equipment provider’s stock valued at $542,000 after buying an additional 16,000 shares during the last quarter. California Public Employees Retirement System boosted its position in AxoGen by 4.9% in the third quarter. California Public Employees Retirement System now owns 137,536 shares of the medical equipment provider’s stock valued at $2,661,000 after buying an additional 6,436 shares during the last quarter. Bamco Inc. NY purchased a new stake in AxoGen in the third quarter valued at approximately $3,443,000. Finally, Valeo Financial Advisors LLC purchased a new stake in AxoGen in the third quarter valued at approximately $244,000. Institutional investors and hedge funds own 67.89% of the company’s stock.

AxoGen Company Profile

AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The company’s 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.

Analyst Recommendations for AxoGen (NASDAQ:AXGN)

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