AxoGen, Inc. (NASDAQ:AXGN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of AxoGen, Inc. (NASDAQ:AXGN) have been assigned an average rating of “Moderate Buy” from the ten brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $39.3750.

A number of brokerages have commented on AXGN. Lake Street Capital upped their price objective on AxoGen from $30.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Wells Fargo & Company initiated coverage on AxoGen in a report on Thursday, February 19th. They set an “overweight” rating and a $40.00 target price for the company. Mizuho began coverage on shares of AxoGen in a research report on Monday, December 1st. They issued an “outperform” rating and a $40.00 target price for the company. Citigroup restated an “outperform” rating on shares of AxoGen in a research note on Tuesday, February 24th. Finally, Citizens Jmp lifted their price objective on shares of AxoGen from $34.00 to $42.00 and gave the stock a “market outperform” rating in a research note on Tuesday, February 24th.

AxoGen Stock Performance

AXGN stock traded down $1.18 during mid-day trading on Friday, hitting $31.07. 94,328 shares of the company were exchanged, compared to its average volume of 967,999. AxoGen has a 1-year low of $9.22 and a 1-year high of $36.00. The stock has a market capitalization of $1.61 billion, a PE ratio of -91.42 and a beta of 0.98. The business has a 50 day simple moving average of $32.68 and a 200-day simple moving average of $27.13. The company has a current ratio of 5.11, a quick ratio of 3.31 and a debt-to-equity ratio of 0.51.

AxoGen (NASDAQ:AXGN) last posted its earnings results on Tuesday, February 24th. The medical equipment provider reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01). The firm had revenue of $59.90 million during the quarter, compared to analyst estimates of $59.90 million. AxoGen had a negative net margin of 6.97% and a negative return on equity of 13.44%. On average, equities analysts forecast that AxoGen will post -0.29 earnings per share for the current year.

Insider Activity at AxoGen

In other news, insider Erick Wayne Devinney sold 5,221 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $32.84, for a total transaction of $171,457.64. Following the transaction, the insider directly owned 262,781 shares of the company’s stock, valued at approximately $8,629,728.04. This trade represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.78% of the company’s stock.

Institutional Investors Weigh In On AxoGen

Several institutional investors have recently made changes to their positions in the stock. MCF Advisors LLC bought a new position in AxoGen during the 4th quarter worth $30,000. Arax Advisory Partners lifted its position in shares of AxoGen by 362.4% during the 4th quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock valued at $34,000 after acquiring an additional 819 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of AxoGen during the 4th quarter worth $36,000. Kestra Advisory Services LLC acquired a new stake in shares of AxoGen during the 4th quarter worth $39,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of AxoGen in the third quarter worth $27,000. 80.29% of the stock is currently owned by institutional investors.

AxoGen Company Profile

AxoGen, Inc is a Florida-based medical technology company that develops and commercializes surgical solutions for peripheral nerve damage. Founded in 2002 and headquartered in Alachua, Florida, the company focuses on restoring nerve function and improving patient outcomes through innovative biologic and engineered products. AxoGen’s offerings address a range of traumatic and iatrogenic injuries, offering alternatives to traditional nerve autografts.

The company’s core product portfolio includes the Avance® Nerve Graft, a decellularized human nerve allograft designed to bridge nerve gaps without the need for a secondary harvest site, and the Axoguard® Nerve Connector and Protector devices, which facilitate nerve coaptation and protect repaired sites from surrounding scar tissue.