AxoGen (NASDAQ:AXGN) Stock Rating Upgraded by Wall Street Zen

AxoGen (NASDAQ:AXGN) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

Several other research firms have also weighed in on AXGN. Weiss Ratings restated a “sell (d-)” rating on shares of AxoGen in a research report on Friday, May 29th. HC Wainwright lifted 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. Citizens Jmp boosted their target price on shares of AxoGen from $42.00 to $50.00 and gave the company a “market outperform” rating in a research note on Wednesday, April 29th. Zacks Research raised shares of AxoGen from a “strong sell” rating to a “hold” rating in a research report on Friday, May 29th. Finally, Wells Fargo & Company raised their price target on shares of AxoGen from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.50.

AxoGen Stock Up 4.2%

Shares of NASDAQ:AXGN opened at $41.14 on Friday. The company has a market capitalization of $2.19 billion, a PE ratio of -64.28 and a beta of 1.09. 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 business has a fifty day moving average price of $42.16 and a two-hundred day moving average price of $37.16. AxoGen has a 1 year low of $12.39 and a 1 year high of $46.95.

AxoGen (NASDAQ:AXGN) last released its earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 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 the consensus estimate of $57.85 million. AxoGen had a negative return on equity of 9.63% and a negative net margin of 13.21%. Analysts forecast that AxoGen will post -0.37 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Amy Mcbride Wendell sold 1,647 shares of AxoGen 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 completion of the transaction, the director owned 93,826 shares in the company, valued at $3,996,987.60. This trade represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Johnson sold 11,050 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $43.26, for a total transaction of $478,023.00. Following the completion of the sale, the director directly owned 11,050 shares in the company, valued at approximately $478,023. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 29,041 shares of company stock valued at $1,268,792. 2.44% of the stock is owned by insiders.

Institutional Trading of AxoGen

A number of institutional investors have recently modified their holdings of the business. MCF Advisors LLC purchased a new position in AxoGen in the 4th quarter valued at approximately $30,000. Aquatic Capital Management LLC lifted its position in shares of AxoGen by 287.8% during the third quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock worth $31,000 after acquiring an additional 1,269 shares in the last quarter. Arax Advisory Partners lifted its position in shares of AxoGen by 362.4% during the fourth quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock worth $34,000 after acquiring an additional 819 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of AxoGen in the fourth quarter worth $36,000. Finally, Kestra Advisory Services LLC bought a new position in shares of AxoGen in the fourth quarter worth $39,000. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

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.