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

AxoGen (NASDAQ:AXGN) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Sunday.

A number of other research firms also recently commented on AXGN. Lake Street Capital raised their target price on AxoGen from $40.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Citigroup reaffirmed an “outperform” rating on shares of AxoGen in a research note on Wednesday, April 29th. Raymond James Financial reiterated an “outperform” rating and issued a $48.00 price objective on shares of AxoGen in a research note on Wednesday, April 29th. Citizens Jmp boosted their price objective on shares of AxoGen from $42.00 to $50.00 and gave the stock a “market outperform” rating in a report on Wednesday, April 29th. Finally, Canaccord Genuity Group boosted their price objective on shares of AxoGen from $45.00 to $50.00 and gave the stock a “buy” rating 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. Based on data from MarketBeat.com, AxoGen presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

AxoGen Stock Performance

Shares of AXGN stock opened at $39.49 on Friday. The company has a market cap of $2.10 billion, a price-to-earnings ratio of -61.70 and a beta of 1.09. The stock has a 50 day simple moving average of $42.18 and a 200-day simple moving average of $37.05. AxoGen has a 12-month low of $12.39 and a 12-month high of $46.95. 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 posted its quarterly earnings results 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). AxoGen had a negative net margin of 13.21% and a negative return on equity of 9.63%. The business had revenue of $61.46 million during the quarter, compared to analyst estimates of $57.85 million. On average, equities analysts forecast that AxoGen will post -0.37 EPS for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On AxoGen

A number of large investors have recently added to or reduced their stakes in AXGN. MCF Advisors LLC purchased a new position in AxoGen during the 4th quarter valued at about $30,000. Arax Advisory Partners lifted its holdings in shares of AxoGen by 362.4% in the fourth quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 819 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of AxoGen in the fourth quarter valued at about $36,000. Kestra Advisory Services LLC acquired a new stake in shares of AxoGen in the fourth quarter valued at approximately $39,000. Finally, KBC Group NV acquired a new stake in shares of AxoGen in the first quarter valued at approximately $41,000. 80.29% of the stock is owned by institutional investors and hedge funds.

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.