Truist Financial Has Lowered Expectations for AxoGen (NASDAQ:AXGN) Stock Price

AxoGen (NASDAQ:AXGN) had its price objective dropped by stock analysts at Truist Financial from $60.00 to $53.00 in a research note issued to investors on Thursday, MarketBeat reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. Truist Financial’s price objective would suggest a potential upside of 42.40% from the stock’s previous close.

A number of other research firms also recently weighed in on AXGN. HC Wainwright upped their price target on AxoGen from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of AxoGen in a report on Wednesday, August 26th. Raymond James Financial increased their price objective on AxoGen from $48.00 to $53.00 and gave the company an “outperform” rating in a report on Friday, September 25th. Wall Street Zen downgraded AxoGen from a “buy” rating to a “hold” rating in a report on Saturday, September 26th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, AxoGen has a consensus rating of “Moderate Buy” and a consensus price target of $51.33.

AxoGen Stock Down 0.5%

NASDAQ:AXGN traded down $0.17 during trading hours on Thursday, reaching $37.22. 2,101,555 shares of the stock were exchanged, compared to its average volume of 1,134,487. AxoGen has a twelve month low of $15.27 and a twelve month high of $52.91. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.60 and a quick ratio of 5.04. The firm has a 50 day moving average of $45.94 and a 200 day moving average of $41.76. The stock has a market cap of $2.00 billion, a PE ratio of -54.73 and a beta of 1.17.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. AxoGen had a negative return on equity of 8.90% and a negative net margin of 13.36%.The firm had revenue of $69.73 million during the quarter, compared to the consensus estimate of $67.10 million. On average, equities analysts expect that AxoGen will post -0.44 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Joseph Tyndall sold 3,500 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $49.70, for a total value of $173,950.00. Following the sale, the director owned 10,650 shares in the company, valued at approximately $529,305. This represents a 24.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marc Began sold 67,500 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $47.34, for a total value of $3,195,450.00. Following the completion of the sale, the executive vice president owned 50,135 shares in the company, valued at approximately $2,373,390.90. This trade represents a 57.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 98,503 shares of company stock worth $4,656,947 in the last quarter. Insiders own 2.44% of the company’s stock.

Institutional Investors Weigh In On AxoGen

A number of large investors have recently added to or reduced their stakes in AXGN. MCF Advisors LLC bought a new stake in AxoGen in the 4th quarter valued at $30,000. Nykredit A S bought a new position in AxoGen during the 2nd quarter worth $30,000. KBC Group NV bought a new position in AxoGen during the 1st quarter worth $41,000. Caitong International Asset Management Co. Ltd bought a new position in AxoGen during the 4th quarter worth $52,000. Finally, Canada Pension Plan Investment Board bought a new position in AxoGen during the 2nd quarter worth $203,000. Institutional investors own 80.29% of the company’s stock.

AxoGen Company Profile

AxoGen, Inc is a medical technology company focused on repairing and regenerating damaged peripheral nerves. The company develops and commercializes products for use by surgeons treating traumatic nerve injuries and other conditions in which nerve function has been compromised.

AxoGen’s product portfolio includes Avance Nerve Graft, a processed human nerve allograft designed to bridge gaps in damaged nerves without requiring tissue to be taken from another part of the patient’s body. Its offerings also include Axoguard Nerve Connector and Axoguard Nerve Protector products, which are designed to support nerve repair and protect nerves during healing, as well as other products for peripheral nerve reconstruction.

Founded in 2002, AxoGen is headquartered in Alachua, Florida.