AxoGen, Inc. (NASDAQ:AXGN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

AxoGen, Inc. (NASDAQ:AXGN) has been assigned an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $51.5556.

AXGN has been the subject of a number of research reports. Citizens Jmp boosted their target price 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. Jefferies Financial Group reissued a “buy” rating and issued a $55.00 price objective on shares of AxoGen in a report on Wednesday, July 29th. HC Wainwright upped their target price on AxoGen from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Wall Street Zen raised AxoGen from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Finally, Truist Financial started coverage on AxoGen in a research report on Wednesday, August 26th. They set a “buy” rating and a $60.00 price target for the company.

Insider Activity

In other news, Director Kathy Weiler sold 14,150 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $45.30, for a total transaction of $640,995.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Joseph Tyndall sold 3,500 shares of AxoGen stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $49.70, for a total transaction 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 trade represents a 24.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 98,503 shares of company stock worth $4,656,947 over the last 90 days. Company insiders own 2.44% of the company’s stock.

Hedge Funds Weigh In On AxoGen

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in AxoGen during the second quarter worth approximately $204,123,000. Wasatch Advisors LP increased its stake in AxoGen by 101.1% in the first quarter. Wasatch Advisors LP now owns 1,857,350 shares of the medical equipment provider’s stock valued at $61,534,000 after purchasing an additional 933,778 shares during the last quarter. Next Century Growth Investors LLC acquired a new stake in AxoGen during the fourth quarter worth approximately $26,180,000. Perceptive Advisors LLC acquired a new stake in AxoGen during the 4th quarter worth $25,665,000. Finally, Bamco Inc. NY acquired a new stake in shares of AxoGen during the second quarter worth about $34,190,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

AxoGen Trading Down 0.3%

Shares of NASDAQ AXGN traded down $0.15 during midday trading on Friday, hitting $45.13. The company’s stock had a trading volume of 65,281 shares, compared to its average volume of 1,108,969. AxoGen has a 12-month low of $15.27 and a 12-month high of $52.91. The firm has a market cap of $2.43 billion, a P/E ratio of -66.39 and a beta of 1.16. The business’s 50 day moving average is $45.25 and its two-hundred day moving average is $40.82. The company has a current ratio of 6.60, a quick ratio of 5.04 and a debt-to-equity ratio of 0.07.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. The business had revenue of $69.73 million during the quarter, compared to analyst estimates of $67.10 million. As a group, equities research analysts expect that AxoGen will post -0.45 EPS for the current year.

About AxoGen

AxoGen, Inc (NASDAQ: AXGN) is a medical technology company focused on the repair and regeneration of damaged peripheral nerves. The company develops and markets biologic and surgical products intended to help restore sensory and motor function following traumatic nerve injuries or surgical procedures.

Its product portfolio includes Avance Nerve Graft, a processed human nerve allograft used to bridge gaps in damaged nerves; Axoguard Nerve Connector, designed to protect and support the repair of smaller nerve injuries; and Axoguard Nerve Protector, a collagen-based product intended to help protect repaired nerves and reduce the effects of scar tissue.