AxoGen, Inc. to Post FY2017 Earnings of ($0.28) Per Share, Cantor Fitzgerald Forecasts (AXGN)
AxoGen, Inc. (NASDAQ:AXGN) – Equities research analysts at Cantor Fitzgerald lifted their FY2017 earnings per share (EPS) estimates for shares of AxoGen in a research report issued on Tuesday. Cantor Fitzgerald analyst T. Steed now expects that the medical equipment provider will earn ($0.28) per share for the year, up from their prior estimate of ($0.30). Cantor Fitzgerald currently has a “Overweight” rating and a $18.00 target price on the stock.
AxoGen (NASDAQ:AXGN) last announced its earnings results on Wednesday, August 2nd. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.02. AxoGen had a negative return on equity of 114.64% and a negative net margin of 27.50%. The business had revenue of $15.20 million for the quarter, compared to analyst estimates of $14.40 million. During the same period in the previous year, the company earned ($0.09) earnings per share. The company’s revenue for the quarter was up 46.2% compared to the same quarter last year.
A number of other research firms have also recently issued reports on AXGN. BidaskClub cut shares of AxoGen from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Leerink Swann assumed coverage on shares of AxoGen in a report on Monday, July 31st. They set an “outperform” rating and a $22.00 price target for the company. ValuEngine upgraded shares of AxoGen from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Wedbush restated an “outperform” rating and set a $14.00 price target (down from $17.00) on shares of AxoGen in a report on Friday, May 19th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $15.90.
Shares of AxoGen (AXGN) opened at 14.70 on Thursday. AxoGen has a 12 month low of $7.65 and a 12 month high of $17.25. The stock’s market capitalization is $488.63 million. The stock’s 50 day moving average price is $15.86 and its 200-day moving average price is $12.85.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. American International Group Inc. raised its position in shares of AxoGen by 7.7% in the first quarter. American International Group Inc. now owns 14,941 shares of the medical equipment provider’s stock worth $156,000 after buying an additional 1,068 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of AxoGen during the first quarter worth approximately $150,000. Millrace Asset Group Inc. raised its position in AxoGen by 4.5% in the first quarter. Millrace Asset Group Inc. now owns 230,000 shares of the medical equipment provider’s stock valued at $2,404,000 after buying an additional 10,000 shares during the period. Trexquant Investment LP acquired a new position in AxoGen during the first quarter valued at about $183,000. Finally, Campbell & CO Investment Adviser LLC raised its position in AxoGen by 3.2% in the first quarter. Campbell & CO Investment Adviser LLC now owns 11,055 shares of the medical equipment provider’s stock valued at $116,000 after buying an additional 341 shares during the period. 64.58% of the stock is owned by institutional investors and hedge funds.
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