Research Analysts Issue Forecasts for AxoGen, Inc.’s FY2017 Earnings (AXGN)
AxoGen, Inc. (NASDAQ:AXGN) – Cantor Fitzgerald issued their FY2017 EPS estimates for shares of AxoGen in a report released on Sunday. Cantor Fitzgerald analyst C. Bijou forecasts that the medical equipment provider will earn ($0.31) per share for the year. Cantor Fitzgerald currently has a “Buy” rating and a $37.00 price objective on the stock. Cantor Fitzgerald also issued estimates for AxoGen’s FY2018 earnings at ($0.27) EPS.
AxoGen (NASDAQ:AXGN) last posted its quarterly earnings results on Wednesday, November 1st. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). The business had revenue of $16.05 million for the quarter, compared to analysts’ expectations of $15.55 million. AxoGen had a negative return on equity of 91.00% and a negative net margin of 24.74%. The business’s quarterly revenue was up 43.2% on a year-over-year basis.
Several other equities analysts have also recently issued reports on AXGN. Leerink Swann reiterated an “outperform” rating and issued a $23.00 price target (up previously from $22.00) on shares of AxoGen in a report on Saturday, September 30th. Wedbush reiterated a “buy” rating and issued a $27.00 price target (up previously from $22.00) on shares of AxoGen in a report on Tuesday, November 21st. Lake Street Capital raised their target price on AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, November 21st. Finally, Jefferies Group initiated coverage on AxoGen in a report on Thursday, November 30th. They set a “buy” rating and a $35.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $29.33.
AxoGen (NASDAQ:AXGN) opened at $27.30 on Wednesday. The stock has a market capitalization of $954.63, a PE ratio of -65.00 and a beta of 0.89. AxoGen has a 1-year low of $8.75 and a 1-year high of $31.70. The company has a quick ratio of 2.95, a current ratio of 3.55 and a debt-to-equity ratio of 1.93.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of AxoGen by 9.0% during the second quarter. Vanguard Group Inc. now owns 1,223,069 shares of the medical equipment provider’s stock worth $20,486,000 after purchasing an additional 101,245 shares during the period. Bank of New York Mellon Corp raised its position in shares of AxoGen by 293.9% during the third quarter. Bank of New York Mellon Corp now owns 631,563 shares of the medical equipment provider’s stock worth $12,222,000 after purchasing an additional 471,209 shares during the period. State Street Corp raised its position in shares of AxoGen by 19.6% during the second quarter. State Street Corp now owns 438,641 shares of the medical equipment provider’s stock worth $7,350,000 after purchasing an additional 71,752 shares during the period. Castleark Management LLC acquired a new stake in shares of AxoGen during the second quarter worth about $5,426,000. Finally, Northern Trust Corp raised its position in shares of AxoGen by 7.8% during the second quarter. Northern Trust Corp now owns 308,360 shares of the medical equipment provider’s stock worth $5,165,000 after purchasing an additional 22,319 shares during the period. 66.00% of the stock is currently owned by institutional investors.
In other news, Director Jamie Mark Grooms sold 38,405 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $26.35, for a total transaction of $1,011,971.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Guido J. Neels sold 1,150,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $19.74, for a total value of $22,701,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,293,990 shares of company stock worth $26,494,898. Company insiders own 9.33% of the company’s stock.
AxoGen Company Profile
AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The companys surgical nerve repair 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 injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
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