AxoGen, Inc. (NASDAQ:AXGN) had its price target lifted by equities researchers at Lake Street Capital from $22.00 to $26.00 in a research note issued to investors on Tuesday. The firm presently has a “buy” rating on the medical equipment provider’s stock. Lake Street Capital’s price target suggests a potential upside of 1.17% from the stock’s current price.

Several other equities analysts also recently commented on the stock. BidaskClub downgraded shares of AxoGen from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Roth Capital reissued a “buy” rating and issued a $21.00 price objective (up previously from $18.00) on shares of AxoGen in a research note on Tuesday, September 12th. Leerink Swann started coverage on shares of AxoGen in a research note on Monday, July 31st. They issued an “outperform” rating and a $22.00 price objective for the company. Cantor Fitzgerald reissued a “buy” rating and issued a $18.00 price objective on shares of AxoGen in a research note on Monday, August 21st. Finally, Wedbush reissued a “buy” rating and issued a $27.00 price objective (up previously from $22.00) on shares of AxoGen in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. AxoGen has an average rating of “Buy” and an average price target of $24.40.

AxoGen (NASDAQ:AXGN) opened at $25.70 on Tuesday. The company has a debt-to-equity ratio of 1.93, a current ratio of 3.55 and a quick ratio of 2.95. AxoGen has a 52 week low of $8.05 and a 52 week high of $26.45.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings data on Wednesday, November 1st. The medical equipment provider reported ($0.06) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.06). The business had revenue of $16.05 million during the quarter, compared to the consensus estimate of $15.55 million. AxoGen had a negative net margin of 24.74% and a negative return on equity of 91.00%. The company’s revenue was up 43.2% on a year-over-year basis. equities research analysts forecast that AxoGen will post -0.33 EPS for the current fiscal year.

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In other news, Director Guido J. Neels sold 1,150,000 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $19.74, for a total transaction of $22,701,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert James Rudelius sold 16,143 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $18.00, for a total transaction of $290,574.00. Following the transaction, the director now directly owns 43,273 shares of the company’s stock, valued at approximately $778,914. The disclosure for this sale can be found here. 9.33% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in AXGN. Bank of New York Mellon Corp raised its stake in shares of AxoGen by 293.9% during the third quarter. Bank of New York Mellon Corp now owns 631,563 shares of the medical equipment provider’s stock valued at $12,222,000 after acquiring an additional 471,209 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of AxoGen by 238.7% during the second quarter. Russell Investments Group Ltd. now owns 611,678 shares of the medical equipment provider’s stock valued at $10,245,000 after acquiring an additional 431,057 shares during the last quarter. Castleark Management LLC bought a new position in shares of AxoGen during the second quarter valued at $5,426,000. Bamco Inc. NY bought a new position in shares of AxoGen during the third quarter valued at $3,443,000. Finally, Renaissance Technologies LLC bought a new position in shares of AxoGen during the first quarter valued at $1,473,000. 67.89% of the stock is owned by hedge funds and other institutional investors.

About AxoGen

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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