Research analysts at Canaccord Genuity began coverage on shares of AxoGen (NASDAQ:AXGN) in a note issued to investors on Friday, MarketBeat reports. The brokerage set a “buy” rating and a $32.00 price target on the medical equipment provider’s stock. Canaccord Genuity’s target price would suggest a potential upside of 56.40% from the company’s current price.

A number of other equities analysts have also recently weighed in on the company. Cantor Fitzgerald reissued a “buy” rating and issued a $27.00 price target on shares of Spero Therapeutics in a report on Thursday, May 9th. ValuEngine cut Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. BidaskClub lowered Virtu Financial from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 12th. Finally, BTIG Research dropped their target price on Verastem to $8.00 and set a “buy” rating for the company in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $36.50.

NASDAQ AXGN opened at $20.46 on Friday. AxoGen has a fifty-two week low of $14.13 and a fifty-two week high of $56.85. The firm has a market capitalization of $796.71 million, a PE ratio of -37.89 and a beta of 0.25. The business has a fifty day moving average of $20.33. The company has a debt-to-equity ratio of 0.02, a quick ratio of 8.03 and a current ratio of 8.83.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings results on Wednesday, May 8th. The medical equipment provider reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.01). AxoGen had a negative return on equity of 15.58% and a negative net margin of 29.19%. The company had revenue of $23.30 million during the quarter, compared to analyst estimates of $22.33 million. During the same period last year, the firm earned ($0.11) earnings per share. The business’s revenue was up 34.7% compared to the same quarter last year. As a group, analysts forecast that AxoGen will post -0.74 EPS for the current fiscal year.

In other AxoGen news, Director Amy Mcbride Wendell bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was purchased at an average cost of $20.25 per share, for a total transaction of $101,250.00. Following the completion of the purchase, the director now owns 23,333 shares of the company’s stock, valued at approximately $472,493.25. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP David K. Hansen sold 20,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $22.63, for a total value of $452,600.00. Following the completion of the transaction, the vice president now owns 25,588 shares of the company’s stock, valued at $579,056.44. The disclosure for this sale can be found here. Corporate insiders own 6.77% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in AXGN. Baillie Gifford & Co. increased its stake in AxoGen by 4,887.5% in the fourth quarter. Baillie Gifford & Co. now owns 636,800 shares of the medical equipment provider’s stock valued at $13,009,000 after purchasing an additional 624,032 shares during the last quarter. Frontier Capital Management Co. LLC acquired a new stake in AxoGen during the first quarter worth about $7,402,000. Two Sigma Investments LP increased its stake in AxoGen by 1,500.4% during the fourth quarter. Two Sigma Investments LP now owns 252,867 shares of the medical equipment provider’s stock worth $5,166,000 after acquiring an additional 237,067 shares during the last quarter. Summit Partners Public Asset Management LLC increased its stake in AxoGen by 431.3% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 272,528 shares of the medical equipment provider’s stock worth $5,568,000 after acquiring an additional 221,229 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new stake in AxoGen during the fourth quarter worth about $3,194,000. Hedge funds and other institutional investors own 87.23% 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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