AxoGen (NASDAQ:AXGN) Upgraded to Buy at Wall Street Zen

AxoGen (NASDAQ:AXGN) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other brokerages have also weighed in on AXGN. Weiss Ratings reiterated a “sell (d-)” rating on shares of AxoGen in a research report on Friday, May 29th. HC Wainwright increased their price target on shares of AxoGen from $39.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Citigroup reaffirmed an “outperform” rating on shares of AxoGen in a research report on Wednesday, April 29th. Zacks Research upgraded AxoGen from a “strong sell” rating to a “hold” rating in a report on Friday, May 29th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $48.00 target price on shares of AxoGen in a report on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $46.50.

AxoGen Price Performance

NASDAQ AXGN opened at $45.89 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 7.10 and a quick ratio of 5.33. The stock has a market capitalization of $2.44 billion, a PE ratio of -71.70 and a beta of 1.09. AxoGen has a 1 year low of $10.71 and a 1 year high of $46.95. The business’s 50-day moving average is $42.32 and its 200 day moving average is $36.12.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). The business had revenue of $61.46 million for the quarter, compared to analysts’ expectations of $57.85 million. AxoGen had a negative net margin of 13.21% and a negative return on equity of 9.63%. Sell-side analysts forecast that AxoGen will post -0.37 earnings per share for the current year.

Insider Activity

In other news, Director Amy Mcbride Wendell sold 1,647 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $42.60, for a total value of $70,162.20. Following the sale, the director directly owned 93,826 shares of the company’s stock, valued at $3,996,987.60. This represents a 1.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathy Johnson Weiler sold 16,344 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $44.09, for a total transaction of $720,606.96. Following the completion of the transaction, the director owned 16,344 shares of the company’s stock, valued at approximately $720,606.96. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 29,041 shares of company stock worth $1,268,792. Corporate insiders own 2.44% of the company’s stock.

Hedge Funds Weigh In On AxoGen

Institutional investors and hedge funds have recently made changes to their positions in the business. MCF Advisors LLC purchased a new position in shares of AxoGen during the fourth quarter valued at approximately $30,000. Aquatic Capital Management LLC grew its stake in shares of AxoGen by 287.8% in the 3rd quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 1,269 shares during the last quarter. Arax Advisory Partners increased its position in AxoGen by 362.4% during the 4th quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 819 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in AxoGen during the 4th quarter valued at approximately $36,000. Finally, Kestra Advisory Services LLC purchased a new position in AxoGen during the fourth quarter valued at $39,000. Institutional investors own 80.29% of the company’s stock.

AxoGen Company Profile

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.