Equities analysts expect that AxoGen, Inc. (NASDAQ:AXGN) will report sales of $16.09 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for AxoGen’s earnings, with the lowest sales estimate coming in at $15.70 million and the highest estimate coming in at $16.50 million. AxoGen reported sales of $11.41 million during the same quarter last year, which would suggest a positive year over year growth rate of 41%. The firm is scheduled to report its next earnings results after the market closes on Wednesday, February 28th.
According to Zacks, analysts expect that AxoGen will report full year sales of $16.09 million for the current year, with estimates ranging from $59.20 million to $60.00 million. For the next fiscal year, analysts expect that the firm will report sales of $83.63 million per share, with estimates ranging from $83.22 million to $84.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for AxoGen.
A number of equities research analysts recently weighed in on the company. William Blair assumed coverage on AxoGen in a research note on Monday. They issued an “outperform” rating on the stock. Leerink Swann increased their price target on AxoGen from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, November 2nd. Cantor Fitzgerald set a $37.00 price target on AxoGen and gave the company a “buy” rating in a research note on Monday, January 8th. Wedbush restated a “buy” rating and issued a $27.00 price target (up previously from $22.00) on shares of AxoGen in a research note on Tuesday, November 21st. Finally, Lake Street Capital increased 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. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. AxoGen currently has a consensus rating of “Buy” and an average price target of $29.33.
In other AxoGen news, Director Guido J. Neels sold 1,150,000 shares of the stock in a transaction on Monday, November 20th. The stock was 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 SEC, which is accessible through this hyperlink. Also, Director Jamie Mark Grooms sold 84,295 shares of the stock in a transaction on Friday, December 8th. The stock was 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 have sold a total of 1,293,990 shares of company stock worth $26,494,898 in the last quarter. Company insiders own 9.33% of the company’s stock.
A number of hedge funds have recently bought and sold shares of AXGN. Valeo Financial Advisors LLC bought a new position in AxoGen during the 3rd quarter worth $244,000. Nationwide Fund Advisors increased its position in AxoGen by 5.5% during the 2nd quarter. Nationwide Fund Advisors now owns 14,874 shares of the medical equipment provider’s stock worth $249,000 after buying an additional 774 shares during the period. OxFORD Asset Management LLP bought a new position in AxoGen during the 3rd quarter worth $270,000. Teacher Retirement System of Texas bought a new position in AxoGen during the 4th quarter worth $271,000. Finally, Susquehanna International Group LLP increased its position in AxoGen by 247.1% during the 2nd quarter. Susquehanna International Group LLP now owns 16,619 shares of the medical equipment provider’s stock worth $278,000 after buying an additional 27,919 shares during the period. Hedge funds and other institutional investors own 65.94% of the company’s stock.
AxoGen Company Profile
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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