AxoGen (NASDAQ:AXGN) had its price objective dropped by Canaccord Genuity from $30.00 to $25.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. Canaccord Genuity’s price target points to a potential upside of 61.39% from the company’s current price.
AXGN has been the topic of a number of other reports. BTIG Research cut their target price on AxoGen to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. William Blair lowered AxoGen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 7th. JMP Securities cut their target price on AxoGen from $43.00 to $28.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Cantor Fitzgerald cut their target price on AxoGen from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, BidaskClub lowered AxoGen from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $23.25.
AxoGen stock traded up $0.35 during midday trading on Thursday, hitting $15.49. 11,225 shares of the company were exchanged, compared to its average volume of 412,294. The company’s fifty day moving average price is $12.54 and its 200-day moving average price is $17.42. The company has a market cap of $528.77 million, a PE ratio of -28.70 and a beta of 0.14. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.70 and a quick ratio of 7.87. AxoGen has a fifty-two week low of $10.91 and a fifty-two week high of $37.79.
AxoGen (NASDAQ:AXGN) last released its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.09. AxoGen had a negative return on equity of 16.73% and a negative net margin of 26.91%. The firm had revenue of $26.70 million for the quarter, compared to analyst estimates of $26.77 million. During the same period in the previous year, the company posted ($0.09) EPS. AxoGen’s revenue for the quarter was up 29.7% on a year-over-year basis. On average, analysts expect that AxoGen will post -0.72 EPS for the current fiscal year.
In other news, Director Quentin S. Blackford purchased 15,535 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $14.01 per share, with a total value of $217,645.35. Following the transaction, the director now owns 25,098 shares in the company, valued at approximately $351,622.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CIO Daniel Pietrzak purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average cost of $5.65 per share, for a total transaction of $56,500.00. Over the last ninety days, insiders acquired 31,170 shares of company stock worth $359,290. 6.77% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its position in shares of AxoGen by 8.5% during the 2nd quarter. BlackRock Inc. now owns 2,674,036 shares of the medical equipment provider’s stock valued at $52,947,000 after acquiring an additional 208,805 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in AxoGen by 15.7% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 74,422 shares of the medical equipment provider’s stock worth $1,474,000 after buying an additional 10,108 shares during the last quarter. Envestnet Asset Management Inc. bought a new position in AxoGen during the 2nd quarter worth $570,000. Man Group plc grew its stake in AxoGen by 27.2% during the 2nd quarter. Man Group plc now owns 546,096 shares of the medical equipment provider’s stock worth $10,813,000 after buying an additional 116,692 shares during the last quarter. Finally, Nuveen Asset Management LLC bought a new position in AxoGen during the 2nd quarter worth $3,114,000. 84.80% of the stock is currently owned by institutional investors and hedge funds.
AxoGen, Inc develops and markets surgical solutions for peripheral nerve injuries. The company's surgical 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 damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
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