AxoGen, Inc (NASDAQ:AXGN)’s share price shot up 5.6% on Friday . The company traded as high as $20.90 and last traded at $20.86. 1,061,970 shares were traded during mid-day trading, an increase of 31% from the average session volume of 813,733 shares. The stock had previously closed at $19.76.

A number of brokerages have recently weighed in on AXGN. ValuEngine downgraded AxoGen from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. BidaskClub downgraded AxoGen from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Cantor Fitzgerald set a $26.00 target price on AxoGen and gave the company a “buy” rating in a report on Friday, January 18th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. AxoGen presently has a consensus rating of “Buy” and an average target price of $42.25.

The firm has a market cap of $812.39 million, a price-to-earnings ratio of -38.63 and a beta of 0.16.

AxoGen (NASDAQ:AXGN) last issued its earnings results on Tuesday, February 26th. The medical equipment provider reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $23.40 million for the quarter, compared to the consensus estimate of $23.40 million. AxoGen had a negative return on equity of 15.77% and a negative net margin of 26.68%. The firm’s quarterly revenue was up 37.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.07) EPS. Analysts forecast that AxoGen, Inc will post -0.61 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in AXGN. Baillie Gifford & Co. grew its stake in shares of AxoGen by 4,887.5% in the 4th quarter. Baillie Gifford & Co. now owns 636,800 shares of the medical equipment provider’s stock valued at $13,009,000 after buying an additional 624,032 shares in the last quarter. Jennison Associates LLC grew its stake in shares of AxoGen by 129.3% in the 3rd quarter. Jennison Associates LLC now owns 861,390 shares of the medical equipment provider’s stock valued at $31,742,000 after buying an additional 485,754 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of AxoGen by 37.1% in the 3rd quarter. Alliancebernstein L.P. now owns 1,333,310 shares of the medical equipment provider’s stock valued at $49,132,000 after buying an additional 361,090 shares in the last quarter. Two Sigma Investments LP grew its stake in shares of AxoGen by 1,500.4% in the 4th quarter. Two Sigma Investments LP now owns 252,867 shares of the medical equipment provider’s stock valued at $5,166,000 after buying an additional 237,067 shares in the last quarter. Finally, Man Group plc bought a new stake in shares of AxoGen in the 3rd quarter valued at approximately $8,288,000. 90.51% of the stock is owned by institutional investors and hedge funds.

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AxoGen Company Profile (NASDAQ:AXGN)

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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