AxoGen, Inc. (NASDAQ:AXGN) had its target price increased by research analysts at Leerink Swann from $26.00 to $30.00 in a research note issued on Tuesday. The firm presently has an “outperform” rating on the medical equipment provider’s stock. Leerink Swann’s price target indicates a potential upside of 23.46% from the company’s current price.

Several other equities research analysts also recently weighed in on AXGN. BidaskClub downgraded shares of AxoGen from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Cantor Fitzgerald reiterated a “buy” rating and set a $18.00 target price on shares of AxoGen in a research note on Monday, August 21st. Roth Capital reiterated a “buy” rating and set a $21.00 target price (up previously from $18.00) on shares of AxoGen in a research note on Tuesday, September 12th. Wedbush reiterated a “buy” rating and set a $27.00 target price (up previously from $22.00) on shares of AxoGen in a research note on Tuesday. Finally, Lake Street Capital increased their target price on shares of AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $24.40.

Shares of AxoGen (NASDAQ AXGN) traded up $0.70 on Tuesday, hitting $24.30. 322,000 shares of the stock traded hands, compared to its average volume of 208,513. AxoGen has a twelve month low of $8.05 and a twelve month high of $25.15. 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 (NASDAQ:AXGN) last announced its earnings results on Wednesday, November 1st. The medical equipment provider reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). AxoGen had a negative net margin of 24.74% and a negative return on equity of 91.00%. The business had revenue of $16.05 million during the quarter, compared to the consensus estimate of $15.55 million. The company’s revenue for the quarter was up 43.2% compared to the same quarter last year. sell-side analysts anticipate that AxoGen will post -0.31 EPS for the current year.

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In related news, Director Guido J. Neels sold 1,150,000 shares of the stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction 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 disclosure for this sale can be found here. Corporate insiders own 9.33% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its holdings in AxoGen by 293.9% in 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 buying an additional 471,209 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in 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 buying an additional 431,057 shares in the last quarter. Castleark Management LLC purchased a new position in AxoGen in the second quarter valued at about $5,426,000. Bamco Inc. NY purchased a new position in AxoGen in the third quarter valued at about $3,443,000. Finally, Renaissance Technologies LLC purchased a new position in AxoGen in the first quarter valued at about $1,473,000. 67.89% of the stock is owned by hedge funds and other institutional investors.

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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