AxoGen (NASDAQ:AXGN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of AxoGen (NASDAQ:AXGN) from a buy rating to a strong-buy rating in a research note published on Friday morning.

Other equities research analysts have also issued research reports about the stock. Citigroup restated a “market outperform” rating on shares of AxoGen in a research note on Thursday, October 30th. Lake Street Capital increased their price objective on AxoGen from $30.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, December 4th. JMP Securities set a $34.00 target price on AxoGen in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AxoGen in a research report on Monday, December 29th. Finally, Canaccord Genuity Group lifted their price objective on AxoGen from $27.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Nine analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $35.56.

AxoGen Trading Up 2.6%

Shares of AxoGen stock opened at $32.83 on Friday. The firm has a market cap of $1.51 billion, a PE ratio of -656.60 and a beta of 1.00. AxoGen has a 1 year low of $9.22 and a 1 year high of $34.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.09 and a quick ratio of 2.64. The stock has a fifty day moving average price of $30.58 and a 200-day moving average price of $21.51.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. AxoGen had a negative net margin of 0.98% and a negative return on equity of 1.90%. The company had revenue of $60.08 million during the quarter, compared to analyst estimates of $56.90 million. Equities research analysts anticipate that AxoGen will post -0.29 EPS for the current year.

Insider Activity at AxoGen

In related news, Director Kathy Johnson Weiler sold 46,653 shares of the stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $29.55, for a total transaction of $1,378,596.15. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Paul Thomas sold 21,399 shares of AxoGen stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $29.61, for a total value of $633,624.39. Following the transaction, the director directly owned 13,528 shares of the company’s stock, valued at $400,564.08. The trade was a 61.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 399,759 shares of company stock worth $11,371,779 in the last 90 days. 2.78% of the stock is owned by company insiders.

Institutional Trading of AxoGen

Several institutional investors and hedge funds have recently bought and sold shares of the company. Future Financial Wealth Managment LLC bought a new position in AxoGen in the third quarter valued at $27,000. Aquatic Capital Management LLC lifted its stake in AxoGen by 287.8% during the third quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock worth $31,000 after purchasing an additional 1,269 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of AxoGen in the 3rd quarter worth about $43,000. FNY Investment Advisers LLC bought a new position in shares of AxoGen during the 3rd quarter valued at about $64,000. Finally, AdvisorNet Financial Inc increased its position in shares of AxoGen by 500.0% during the 3rd quarter. AdvisorNet Financial Inc now owns 4,800 shares of the medical equipment provider’s stock valued at $86,000 after purchasing an additional 4,000 shares during the last quarter. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

About AxoGen

AxoGen, Inc is a Florida-based medical technology company that develops and commercializes surgical solutions for peripheral nerve damage. Founded in 2002 and headquartered in Alachua, Florida, the company focuses on restoring nerve function and improving patient outcomes through innovative biologic and engineered products. AxoGen’s offerings address a range of traumatic and iatrogenic injuries, offering alternatives to traditional nerve autografts.

The company’s core product portfolio includes the Avance® Nerve Graft, a decellularized human nerve allograft designed to bridge nerve gaps without the need for a secondary harvest site, and the Axoguard® Nerve Connector and Protector devices, which facilitate nerve coaptation and protect repaired sites from surrounding scar tissue.