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

AxoGen (NASDAQ:AXGN) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Sunday, Wall Street Zen reports.

Several other brokerages also recently weighed in on AXGN. Weiss Ratings reissued a “sell (d-)” rating on shares of AxoGen in a report on Wednesday, August 26th. Morgan Stanley downgraded shares of AxoGen to a “hold” rating in a report on Tuesday, September 29th. Mizuho set a $65.00 price objective on shares of AxoGen in a report on Wednesday, October 28th. Citizens Jmp increased their price objective on shares of AxoGen from $50.00 to $55.00 and gave the company a “market outperform” rating in a research report on Thursday, July 30th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $60.00 target price on shares of AxoGen in a research note on Wednesday, October 28th. Thirteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, AxoGen currently has a consensus rating of “Moderate Buy” and an average price target of $57.92.

AxoGen Trading Up 1.2%

AXGN opened at $50.64 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 10.67 and a current ratio of 12.02. The stock’s 50 day moving average price is $42.77 and its 200-day moving average price is $40.01. AxoGen has a one year low of $23.00 and a one year high of $52.91. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of -77.91 and a beta of 1.21.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings data on Wednesday, October 28th. The medical equipment provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. AxoGen had a negative net margin of 11.96% and a negative return on equity of 5.35%. The company had revenue of $75.83 million during the quarter, compared to analyst estimates of $73.45 million. On average, equities analysts forecast that AxoGen will post -0.36 EPS for the current year.

Insider Buying and Selling at AxoGen

In other news, Director Joseph Tyndall sold 3,500 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $49.70, for a total value of $173,950.00. Following the transaction, the director directly owned 10,650 shares of the company’s stock, valued at approximately $529,305. This represents a 24.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.44% of the company’s stock.

Institutional Investors Weigh In On AxoGen

A number of large investors have recently bought and sold shares of AXGN. White Pine Capital LLC acquired a new position in AxoGen in the 3rd quarter worth approximately $1,812,000. Russell Investments Group Ltd. boosted its holdings in shares of AxoGen by 163.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 334,902 shares of the medical equipment provider’s stock valued at $14,039,000 after acquiring an additional 207,916 shares during the last quarter. Lisanti Capital Growth LLC increased its stake in shares of AxoGen by 21.9% in the third quarter. Lisanti Capital Growth LLC now owns 110,420 shares of the medical equipment provider’s stock worth $4,629,000 after acquiring an additional 19,855 shares during the period. Advisor Resource Council increased its stake in shares of AxoGen by 6.8% in the third quarter. Advisor Resource Council now owns 8,749 shares of the medical equipment provider’s stock worth $367,000 after acquiring an additional 556 shares during the period. Finally, Calamos Advisors LLC raised its holdings in shares of AxoGen by 15.8% during the third quarter. Calamos Advisors LLC now owns 110,210 shares of the medical equipment provider’s stock worth $4,620,000 after purchasing an additional 15,064 shares during the last quarter. Hedge funds and other institutional investors own 80.29% of the company’s stock.

AxoGen Company Profile

AxoGen, Inc is a medical technology company focused on repairing peripheral nerve injuries—damage to nerves outside the brain and spinal cord. Its products are used by surgeons in procedures intended to restore nerve function and sensation.

The company’s offerings include Avance Nerve Graft, a processed human nerve allograft used to bridge gaps in damaged nerves, and Axoguard products designed to protect, connect or cap nerves during repair. Axogen also provides education and support for healthcare professionals who use its nerve-repair solutions.

Founded in 2002, Axogen serves healthcare providers in the United States and select international markets.