AxoGen (NASDAQ:AXGN) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Wednesday.

Several other research firms have also recently commented on AXGN. Cantor Fitzgerald restated a “buy” rating and issued a $45.00 target price on shares of AxoGen in a research note on Thursday, August 9th. BTIG Research assumed coverage on shares of AxoGen in a research note on Wednesday, November 14th. They issued a “neutral” rating for the company. Finally, Leerink Swann restated an “outperform” rating and issued a $55.00 target price on shares of AxoGen in a research note on Tuesday, October 30th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $44.80.

AXGN stock opened at $31.20 on Wednesday. AxoGen has a one year low of $23.60 and a one year high of $56.85. The firm has a market capitalization of $1.22 billion, a PE ratio of -100.65 and a beta of -0.24.

AxoGen (NASDAQ:AXGN) last released its earnings results on Monday, October 29th. The medical equipment provider reported ($0.05) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.05). AxoGen had a negative net margin of 25.39% and a negative return on equity of 18.17%. The company had revenue of $22.66 million during the quarter, compared to analysts’ expectations of $22.52 million. During the same quarter last year, the business earned ($0.04) EPS. The business’s revenue was up 41.2% on a year-over-year basis. Equities research analysts expect that AxoGen will post -0.58 earnings per share for the current fiscal year.

In other news, General Counsel Gregory Gene Freitag sold 45,000 shares of the stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $33.00, for a total value of $1,485,000.00. Following the completion of the transaction, the general counsel now owns 95,865 shares in the company, valued at approximately $3,163,545. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Karen L. Zaderej sold 25,000 shares of the stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $33.18, for a total transaction of $829,500.00. Following the completion of the transaction, the chief executive officer now owns 394,970 shares of the company’s stock, valued at approximately $13,105,104.60. The disclosure for this sale can be found here. Insiders sold a total of 90,000 shares of company stock valued at $2,959,500 in the last quarter. Insiders own 7.86% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in AXGN. Vanguard Group Inc. grew its holdings in shares of AxoGen by 4.9% during the third quarter. Vanguard Group Inc. now owns 1,585,119 shares of the medical equipment provider’s stock worth $58,412,000 after buying an additional 74,226 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of AxoGen by 128.8% during the third quarter. Legal & General Group Plc now owns 12,124 shares of the medical equipment provider’s stock worth $447,000 after buying an additional 6,824 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of AxoGen by 5.2% during the third quarter. Teachers Advisors LLC now owns 66,926 shares of the medical equipment provider’s stock worth $2,466,000 after buying an additional 3,315 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in shares of AxoGen by 43.2% during the third quarter. Neuberger Berman Group LLC now owns 285,000 shares of the medical equipment provider’s stock worth $10,502,000 after buying an additional 86,000 shares in the last quarter. Finally, Macquarie Group Ltd. purchased a new stake in shares of AxoGen during the third quarter worth about $1,024,000. Institutional investors and hedge funds own 88.59% of the company’s stock.

AxoGen Company Profile

AxoGen, Inc develops and markets surgical solutions for peripheral nerve injuries. The company's surgical 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 damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.

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Analyst Recommendations for AxoGen (NASDAQ:AXGN)

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