AxoGen, Inc. (NASDAQ:AXGN) Receives Consensus Rating of “Moderate Buy” from Analysts

AxoGen, Inc. (NASDAQ:AXGN) has earned a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and nine have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $39.3750.

AXGN has been the subject of a number of analyst reports. Lake Street Capital lifted their price objective on shares of AxoGen from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. HC Wainwright upped their target price on shares of AxoGen from $26.00 to $39.00 and gave the company a “buy” rating in a report on Friday, December 5th. Wells Fargo & Company assumed coverage on shares of AxoGen in a research note on Thursday, February 19th. They issued an “overweight” rating and a $40.00 target price for the company. Canaccord Genuity Group lifted their price target on AxoGen from $27.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Finally, Citizens Jmp boosted their price target on AxoGen from $34.00 to $42.00 and gave the stock a “market outperform” rating in a research report on Tuesday, February 24th.

Insider Buying and Selling at AxoGen

In related news, insider Erick Wayne Devinney sold 5,221 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $32.84, for a total transaction of $171,457.64. Following the transaction, the insider directly owned 262,781 shares of the company’s stock, valued at approximately $8,629,728.04. The trade was a 1.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.78% of the company’s stock.

Institutional Investors Weigh In On AxoGen

Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its position in AxoGen by 14.2% during the first quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock worth $704,000 after purchasing an additional 4,723 shares during the period. AQR Capital Management LLC raised its position in shares of AxoGen by 45.3% in the first quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider’s stock valued at $442,000 after purchasing an additional 7,453 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of AxoGen by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock valued at $466,000 after purchasing an additional 1,057 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of AxoGen by 104,810.0% during the 1st quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider’s stock worth $194,000 after buying an additional 10,481 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of AxoGen by 120.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,077 shares of the medical equipment provider’s stock worth $88,000 after buying an additional 4,409 shares during the last quarter. Institutional investors and hedge funds own 80.29% of the company’s stock.

AxoGen Stock Down 3.7%

Shares of AxoGen stock traded down $1.18 on Friday, reaching $31.07. 94,328 shares of the company were exchanged, compared to its average volume of 967,999. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -91.42 and a beta of 0.98. The company has a current ratio of 5.11, a quick ratio of 3.31 and a debt-to-equity ratio of 0.51. AxoGen has a one year low of $9.22 and a one year high of $36.00. The company has a 50-day moving average of $32.68 and a 200 day moving average of $27.13.

AxoGen (NASDAQ:AXGN) last released its earnings results on Tuesday, February 24th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). AxoGen had a negative net margin of 6.97% and a negative return on equity of 13.44%. The firm had revenue of $59.90 million during the quarter, compared to the consensus estimate of $59.90 million. On average, equities research analysts forecast that AxoGen will post -0.29 earnings per share for the current year.

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.