AxoGen, Inc. (NASDAQ:AXGN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of AxoGen, Inc. (NASDAQ:AXGN) have been assigned an average recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and nine have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $46.50.

AXGN has been the subject of a number of recent research reports. Raymond James Financial reiterated an “outperform” rating and issued a $48.00 price objective on shares of AxoGen in a report on Wednesday, April 29th. HC Wainwright raised their target price on AxoGen from $39.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Lake Street Capital upped their price target on AxoGen from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Wells Fargo & Company increased their price objective on AxoGen from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Finally, Citigroup reissued an “outperform” rating on shares of AxoGen in a research note on Wednesday, April 29th.

Insider Activity

In other news, Director Amy Mcbride Wendell sold 1,647 shares of AxoGen stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $42.60, for a total value of $70,162.20. Following the transaction, the director owned 93,826 shares of the company’s stock, valued at $3,996,987.60. This trade represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kathy Johnson Weiler sold 16,344 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $44.09, for a total transaction of $720,606.96. Following the completion of the sale, the director owned 16,344 shares of the company’s stock, valued at $720,606.96. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 34,262 shares of company stock worth $1,440,250. 2.44% of the stock is owned by company insiders.

Institutional Investors Weigh In On AxoGen

A number of hedge funds have recently bought and sold shares of AXGN. SummitTX Capital L.P. bought a new position in shares of AxoGen in the first quarter worth about $7,769,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in AxoGen during the 1st quarter valued at approximately $3,847,000. Public Employees Retirement System of Ohio bought a new stake in AxoGen during the 1st quarter valued at approximately $1,720,000. Sei Investments Co. grew its holdings in AxoGen by 38.3% in the 1st quarter. Sei Investments Co. now owns 71,808 shares of the medical equipment provider’s stock valued at $2,379,000 after buying an additional 19,886 shares during the last quarter. Finally, First Trust Advisors LP acquired a new stake in AxoGen in the 1st quarter valued at approximately $327,000. 80.29% of the stock is currently owned by institutional investors.

AxoGen Price Performance

NASDAQ AXGN opened at $40.99 on Friday. The company has a quick ratio of 5.33, a current ratio of 7.10 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $2.18 billion, a PE ratio of -64.05 and a beta of 1.17. The company has a 50 day moving average price of $35.43 and a two-hundred day moving average price of $32.04. AxoGen has a 12-month low of $9.22 and a 12-month high of $45.83.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.05). The business had revenue of $61.46 million for the quarter, compared to analyst estimates of $57.85 million. AxoGen had a negative return on equity of 9.63% and a negative net margin of 13.21%. As a group, equities analysts predict that AxoGen will post -0.3 earnings per share for the current fiscal year.

About AxoGen

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.