AxoGen, Inc. (AXGN) Given Average Recommendation of “Buy” by Brokerages

AxoGen, Inc. (NASDAQ:AXGN) has received a consensus rating of “Buy” from the eight brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $29.33.

Several equities analysts have recently issued reports on AXGN shares. Leerink Swann upped their price target on AxoGen from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, November 21st. Lake Street Capital upped their price target on AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, November 21st. Wedbush reaffirmed a “buy” rating and set a $27.00 price target (up previously from $22.00) on shares of AxoGen in a research note on Tuesday, November 21st. BidaskClub lowered AxoGen from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of AxoGen in a research note on Friday, January 5th.

In other AxoGen news, Director Guido J. Neels sold 1,150,000 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $19.74, for a total value of $22,701,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jamie Mark Grooms sold 84,295 shares of the stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $26.38, for a total value of $2,223,702.10. The disclosure for this sale can be found here. Insiders sold 1,293,990 shares of company stock worth $26,494,898 in the last three months. Insiders own 9.33% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Pennsylvania Trust Co lifted its stake in AxoGen by 7.0% in the fourth quarter. Pennsylvania Trust Co now owns 152,370 shares of the medical equipment provider’s stock valued at $4,312,000 after buying an additional 10,000 shares during the period. Pura Vida Investments LLC lifted its stake in AxoGen by 27.8% in the third quarter. Pura Vida Investments LLC now owns 229,278 shares of the medical equipment provider’s stock valued at $4,437,000 after buying an additional 49,909 shares during the period. Neuberger Berman Group LLC lifted its stake in AxoGen by 133.3% in the third quarter. Neuberger Berman Group LLC now owns 28,000 shares of the medical equipment provider’s stock valued at $542,000 after buying an additional 16,000 shares during the period. California Public Employees Retirement System lifted its stake in AxoGen by 4.9% in the third quarter. California Public Employees Retirement System now owns 137,536 shares of the medical equipment provider’s stock valued at $2,661,000 after buying an additional 6,436 shares during the period. Finally, Bamco Inc. NY acquired a new position in AxoGen in the third quarter valued at about $3,443,000. 66.00% of the stock is currently owned by hedge funds and other institutional investors.

AxoGen (AXGN) opened at $28.00 on Tuesday. The company has a debt-to-equity ratio of 1.93, a quick ratio of 2.95 and a current ratio of 3.55. AxoGen has a one year low of $8.75 and a one year high of $31.70. The stock has a market capitalization of $954.63, a price-to-earnings ratio of -70.00 and a beta of 0.40.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings results on Wednesday, November 1st. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). AxoGen had a negative return on equity of 91.00% and a negative net margin of 24.74%. The business had revenue of $16.05 million for the quarter, compared to analyst estimates of $15.55 million. The business’s revenue for the quarter was up 43.2% compared to the same quarter last year. analysts forecast that AxoGen will post -0.31 EPS for the current fiscal year.

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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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