AxoGen, Inc. (AXGN) Given Consensus Recommendation of “Buy” by Brokerages
Shares of AxoGen, Inc. (NASDAQ:AXGN) have been given a consensus recommendation of “Buy” by the eight analysts that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $17.40.
AXGN has been the subject of a number of research analyst reports. Cantor Fitzgerald reiterated a “buy” rating and issued a $18.00 price target on shares of AxoGen in a research note on Monday, August 21st. Roth Capital reiterated a “buy” rating and issued a $21.00 price target (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 research note on Friday, July 28th. Finally, Leerink Swann initiated coverage on AxoGen in a research note on Monday, July 31st. They issued an “outperform” rating and a $22.00 price target for the company.
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AxoGen (NASDAQ:AXGN) last released its quarterly earnings results on Tuesday, October 31st. The medical equipment provider reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). AxoGen had a negative return on equity of 114.64% and a negative net margin of 27.50%. The company had revenue of $16.05 million during the quarter, compared to analysts’ expectations of $15.55 million. The firm’s revenue for the quarter was up 43.2% on a year-over-year basis.
In other news, Director Robert James Rudelius sold 16,143 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $18.00, for a total value of $290,574.00. Following the transaction, the director now directly owns 43,273 shares of the company’s stock, valued at $778,914. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.33% of the company’s stock.
Several hedge funds have recently made changes to their positions in AXGN. Russell Investments Group Ltd. increased its holdings in shares of AxoGen by 238.7% in 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 purchasing an additional 431,057 shares during the period. Castleark Management LLC acquired a new stake in AxoGen during the second quarter worth about $5,426,000. Renaissance Technologies LLC acquired a new stake in AxoGen during the first quarter worth about $1,473,000. EAM Investors LLC grew 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 acquiring an additional 136,453 shares during the period. Finally, Vanguard Group Inc. grew its holdings in AxoGen by 9.0% during the second quarter. Vanguard Group Inc. now owns 1,223,069 shares of the medical equipment provider’s stock worth $20,486,000 after acquiring an additional 101,245 shares during the period. 66.81% of the stock is currently owned by institutional investors and hedge funds.
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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