AxoGen (NASDAQ:AXGN) Lowered to Hold Rating by Wall Street Zen

AxoGen (NASDAQ:AXGN) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

AXGN has been the topic of a number of other reports. Lake Street Capital increased their price target on shares of AxoGen from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Citigroup reaffirmed an “outperform” rating on shares of AxoGen in a report on Wednesday, April 29th. HC Wainwright upped their price objective on shares of AxoGen from $39.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Raymond James Financial reissued an “outperform” rating and set a $48.00 target price on shares of AxoGen in a research note on Wednesday, April 29th. Finally, Citizens Jmp increased their target price on shares of AxoGen from $42.00 to $50.00 and gave the stock a “market outperform” rating in a research note on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, AxoGen presently has an average rating of “Moderate Buy” and a consensus target price of $46.50.

AxoGen Trading Up 0.2%

Shares of NASDAQ:AXGN opened at $39.85 on Friday. AxoGen has a 12-month low of $11.25 and a 12-month high of $46.95. The company has a market capitalization of $2.12 billion, a PE ratio of -62.27 and a beta of 1.09. The business has a 50 day moving average of $42.29 and a two-hundred day moving average of $36.80. The company has a current ratio of 7.10, a quick ratio of 5.33 and a debt-to-equity ratio of 0.08.

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

Insider Activity

In related news, Director John Johnson sold 11,050 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $43.26, for a total value of $478,023.00. Following the completion of the sale, the director owned 11,050 shares of the company’s stock, valued at approximately $478,023. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathy Johnson Weiler sold 16,344 shares of the business’s stock in a transaction on 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 sale, the director directly owned 16,344 shares of the company’s stock, valued at approximately $720,606.96. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,041 shares of company stock worth $1,268,792 in the last quarter. Corporate insiders own 2.44% of the company’s stock.

Institutional Trading of AxoGen

Several institutional investors have recently modified their holdings of AXGN. MCF Advisors LLC purchased a new stake in shares of AxoGen during the fourth quarter worth about $30,000. Arax Advisory Partners lifted its stake in AxoGen by 362.4% in 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 purchased a new position in AxoGen in the 4th quarter valued at about $36,000. Kestra Advisory Services LLC acquired a new stake in AxoGen in the 4th quarter worth about $39,000. Finally, KBC Group NV acquired a new stake in AxoGen in the 1st quarter worth about $41,000. Institutional investors and hedge funds 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.