AxoGen, Inc. (NASDAQ:AXGN) Receives $22.60 Average Price Target from Brokerages

Shares of AxoGen, Inc. (NASDAQ:AXGN) have earned an average rating of “Buy” from the five analysts that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $22.60.

Several equities research analysts recently issued reports on AXGN shares. Canaccord Genuity Group lifted their price target on shares of AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $24.00 price target on shares of AxoGen in a report on Wednesday, March 5th. Finally, Lake Street Capital assumed coverage on AxoGen in a research note on Monday, March 17th. They set a “buy” rating and a $30.00 price objective for the company.

Insiders Place Their Bets

In related news, insider Erick Wayne Devinney sold 15,111 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total transaction of $264,442.50. Following the sale, the insider now owns 217,762 shares in the company, valued at $3,810,835. This represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amy Mcbride Wendell sold 5,000 shares of AxoGen stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $20.02, for a total value of $100,100.00. Following the completion of the transaction, the director now owns 97,899 shares of the company’s stock, valued at approximately $1,959,937.98. The trade was a 4.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by company insiders.

Institutional Trading of AxoGen

Several hedge funds have recently made changes to their positions in AXGN. R Squared Ltd acquired a new position in shares of AxoGen during the fourth quarter valued at $30,000. US Bancorp DE bought a new position in AxoGen in the 4th quarter worth about $30,000. State of Wyoming acquired a new stake in shares of AxoGen in the fourth quarter valued at approximately $31,000. Fifth Third Bancorp bought a new stake in shares of AxoGen during the first quarter valued at approximately $92,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of AxoGen during the fourth quarter worth approximately $93,000. Institutional investors own 80.29% of the company’s stock.

AxoGen Trading Down 9.8 %

NASDAQ:AXGN opened at $11.36 on Tuesday. AxoGen has a 12 month low of $5.65 and a 12 month high of $21.00. The business’s 50-day moving average is $16.74 and its two-hundred day moving average is $16.31. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. The firm has a market capitalization of $517.28 million, a PE ratio of -35.50 and a beta of 1.19.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings results on Thursday, May 8th. The medical equipment provider reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.07). AxoGen had a negative return on equity of 14.91% and a negative net margin of 7.91%. Research analysts predict that AxoGen will post -0.29 earnings per share for the current fiscal year.

AxoGen Company Profile

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company’s products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral 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 peripheral nerves; 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; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.