William Blair started coverage on shares of AxoGen (NASDAQ:AXGN) in a research note released on Monday morning, MarketBeat reports. The brokerage issued an outperform rating on the medical equipment provider’s stock. William Blair also issued estimates for AxoGen’s Q4 2017 earnings at ($0.09) EPS, FY2017 earnings at ($0.33) EPS, Q1 2018 earnings at ($0.09) EPS, Q2 2018 earnings at ($0.04) EPS, Q3 2018 earnings at ($0.05) EPS, Q4 2018 earnings at ($0.06) EPS, FY2018 earnings at ($0.24) EPS, Q1 2019 earnings at ($0.04) EPS, Q2 2019 earnings at ($0.04) EPS, Q3 2019 earnings at ($0.02) EPS, Q4 2019 earnings at $0.01 EPS and FY2019 earnings at ($0.09) EPS.

A number of other research analysts have also recently issued reports on AXGN. Leerink Swann raised their price target on shares of AxoGen from $23.00 to $26.00 and gave the stock an outperform rating in a report on Thursday, November 2nd. Cantor Fitzgerald set a $37.00 price target on shares of AxoGen and gave the stock a buy rating in a report on Monday, January 8th. Wedbush reaffirmed a buy rating and issued a $27.00 price target (up previously from $22.00) on shares of AxoGen in a report on Tuesday, November 21st. Lake Street Capital raised their price target on shares of AxoGen from $22.00 to $26.00 and gave the stock a buy rating in a report on Tuesday, November 21st. Finally, BidaskClub cut shares of AxoGen from a strong-buy rating to a buy rating in a report on Thursday, January 11th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $29.33.

AxoGen (NASDAQ AXGN) opened at $25.70 on Monday. The stock has a market cap of $864.28, a price-to-earnings ratio of -64.25 and a beta of 0.12. AxoGen has a fifty-two week low of $9.55 and a fifty-two week high of $31.70. The company has a quick ratio of 2.95, a current ratio of 3.55 and a debt-to-equity ratio of 1.93.

In related news, Director Jamie Mark Grooms sold 21,290 shares of the firm’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $26.22, for a total transaction of $558,223.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Guido J. Neels sold 1,150,000 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $19.74, for a total transaction of $22,701,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,293,990 shares of company stock valued at $26,494,898. 9.33% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of AXGN. Schwab Charles Investment Management Inc. raised its holdings in shares of AxoGen by 33.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 51,300 shares of the medical equipment provider’s stock worth $860,000 after purchasing an additional 13,000 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of AxoGen by 80.7% during the second quarter. Bank of New York Mellon Corp now owns 160,354 shares of the medical equipment provider’s stock worth $2,685,000 after purchasing an additional 71,609 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of AxoGen by 17.2% during the second quarter. Wells Fargo & Company MN now owns 46,745 shares of the medical equipment provider’s stock worth $783,000 after purchasing an additional 6,848 shares during the last quarter. Alliancebernstein L.P. purchased a new position in shares of AxoGen during the second quarter worth $317,000. Finally, Ameriprise Financial Inc. purchased a new position in shares of AxoGen during the second quarter worth $1,412,000. 65.94% of the stock is owned by hedge funds and other institutional investors.

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AxoGen Company Profile

AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The company’s surgical nerve repair solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed 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 nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.

Analyst Recommendations for AxoGen (NASDAQ:AXGN)

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