AxoGen (NASDAQ:AXGN) Downgraded to “Buy” Rating by Wall Street Zen

Wall Street Zen downgraded shares of AxoGen (NASDAQ:AXGN) from a strong-buy rating to a buy rating in a research note published on Saturday.

AXGN has been the subject of several other research reports. Raymond James Financial reaffirmed an “outperform” rating and issued a $41.00 target price on shares of AxoGen in a research note on Monday, February 23rd. Weiss Ratings restated a “sell (e+)” rating on shares of AxoGen in a report on Monday, December 29th. Citigroup reaffirmed an “outperform” rating on shares of AxoGen in a research note on Tuesday. Mizuho began coverage on shares of AxoGen in a research report on Monday, December 1st. They issued an “outperform” rating and a $40.00 target price on the stock. Finally, Jefferies Financial Group boosted their price target on shares of AxoGen from $29.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, AxoGen presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.67.

AxoGen Stock Down 0.5%

AXGN opened at $31.73 on Friday. The business’s fifty day simple moving average is $33.08 and its 200 day simple moving average is $25.15. AxoGen has a 52 week low of $9.22 and a 52 week high of $36.00. The company has a quick ratio of 2.64, a current ratio of 5.11 and a debt-to-equity ratio of 0.51. The stock has a market cap of $1.65 billion, a PE ratio of -93.32 and a beta of 1.00.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings results on Tuesday, February 24th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). The firm had revenue of $59.90 million for the quarter, compared to the consensus estimate of $59.90 million. AxoGen had a negative return on equity of 13.44% and a negative net margin of 6.97%. As a group, research analysts expect that AxoGen will post -0.29 earnings per share for the current fiscal year.

Insider Activity

In other news, Director John Johnson sold 23,693 shares of the stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $31.24, for a total transaction of $740,169.32. Following the completion of the sale, the director directly owned 13,141 shares in the company, valued at approximately $410,524.84. This represents a 64.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Amy Mcbride Wendell sold 43,684 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $29.31, for a total value of $1,280,378.04. Following the completion of the sale, the director directly owned 93,826 shares in the company, valued at $2,750,040.06. The trade was a 31.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 301,680 shares of company stock valued at $9,174,052. 2.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AxoGen

Several hedge funds have recently made changes to their positions in the business. First Light Asset Management LLC lifted its stake in AxoGen by 28.2% in the third quarter. First Light Asset Management LLC now owns 5,805,730 shares of the medical equipment provider’s stock worth $103,574,000 after acquiring an additional 1,276,487 shares during the period. Vanguard Group Inc. raised its holdings in AxoGen by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 2,869,955 shares of the medical equipment provider’s stock worth $93,934,000 after purchasing an additional 190,557 shares in the last quarter. Morgan Stanley raised its holdings in AxoGen by 6.5% in the 4th quarter. Morgan Stanley now owns 2,586,870 shares of the medical equipment provider’s stock worth $84,668,000 after purchasing an additional 157,029 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its position in shares of AxoGen by 20.4% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,958,406 shares of the medical equipment provider’s stock worth $34,938,000 after purchasing an additional 332,498 shares during the period. Finally, Balyasny Asset Management L.P. boosted its stake in shares of AxoGen by 183.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider’s stock valued at $20,953,000 after purchasing an additional 1,250,968 shares in the last quarter. 80.29% of the stock is owned by hedge funds and other institutional investors.

AxoGen Company Profile

AxoGen, Inc is a Florida-based medical technology company that develops and commercializes surgical solutions for peripheral nerve damage. Founded in 2002 and headquartered in Alachua, Florida, the company focuses on restoring nerve function and improving patient outcomes through innovative biologic and engineered products. AxoGen’s offerings address a range of traumatic and iatrogenic injuries, offering alternatives to traditional nerve autografts.

The company’s core product portfolio includes the Avance® Nerve Graft, a decellularized human nerve allograft designed to bridge nerve gaps without the need for a secondary harvest site, and the Axoguard® Nerve Connector and Protector devices, which facilitate nerve coaptation and protect repaired sites from surrounding scar tissue.