BTIG Research began coverage on shares of AxoGen (NASDAQ:AXGN) in a report released on Wednesday morning, The Fly reports. The firm issued a neutral rating on the medical equipment provider’s stock.

AXGN has been the topic of several other research reports. BidaskClub cut AxoGen from a buy rating to a hold rating in a research report on Tuesday. Cantor Fitzgerald lowered their price objective on AxoGen from $45.00 to $43.00 and set an overweight rating on the stock in a research report on Tuesday, October 30th. Finally, Leerink Swann reiterated an outperform rating and set a $55.00 price objective on shares of AxoGen in a research report on Tuesday, October 30th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. AxoGen has a consensus rating of Buy and a consensus price target of $41.83.

AXGN stock traded up $0.76 during trading hours on Wednesday, hitting $32.93. 34,589 shares of the stock were exchanged, compared to its average volume of 448,476. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -105.58 and a beta of -0.27. AxoGen has a 12 month low of $22.00 and a 12 month high of $56.85.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings data on Monday, October 29th. The medical equipment provider reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $22.66 million for the quarter, compared to analysts’ expectations of $22.52 million. AxoGen had a negative return on equity of 18.17% and a negative net margin of 25.39%. The company’s quarterly revenue was up 41.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.04) EPS. Equities research analysts expect that AxoGen will post -0.58 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AXGN. Macquarie Group Ltd. acquired a new stake in shares of AxoGen during the third quarter valued at about $1,024,000. HRT Financial LLC acquired a new stake in shares of AxoGen during the third quarter valued at about $467,000. Advisors Asset Management Inc. boosted its stake in shares of AxoGen by 6.7% during the third quarter. Advisors Asset Management Inc. now owns 169,842 shares of the medical equipment provider’s stock valued at $6,259,000 after purchasing an additional 10,655 shares in the last quarter. MetLife Investment Advisors LLC boosted its stake in shares of AxoGen by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 24,012 shares of the medical equipment provider’s stock valued at $885,000 after purchasing an additional 8,536 shares in the last quarter. Finally, Putnam Investments LLC boosted its stake in shares of AxoGen by 181.5% during the third quarter. Putnam Investments LLC now owns 111,214 shares of the medical equipment provider’s stock valued at $4,098,000 after purchasing an additional 71,702 shares in the last quarter. 83.61% of the stock is currently owned by institutional investors.

AxoGen Company Profile

AxoGen, Inc develops and markets surgical solutions for peripheral nerve injuries. The company's surgical 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 damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.

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Analyst Recommendations for AxoGen (NASDAQ:AXGN)

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