AxoGen (NASDAQ:AXGN) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of AxoGen (NASDAQ:AXGN) from a hold rating to a buy rating in a report published on Sunday.

Several other equities research analysts have also recently issued reports on AXGN. Citigroup reiterated an “outperform” rating on shares of AxoGen in a research note on Wednesday, April 29th. Zacks Research upgraded AxoGen from a “strong sell” rating to a “hold” rating in a research note on Friday, May 29th. Wells Fargo & Company lifted 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of AxoGen in a research report on Friday, May 29th. Finally, HC Wainwright increased their target price on AxoGen from $39.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, AxoGen presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.50.

AxoGen Price Performance

Shares of AxoGen stock opened at $39.49 on Friday. AxoGen has a twelve month low of $12.39 and a twelve month high of $46.95. 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 company has a 50-day simple moving average of $42.18 and a two-hundred day simple moving average of $37.09. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -61.70 and a beta of 1.09.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). AxoGen had a negative net margin of 13.21% and a negative return on equity of 9.63%. The business had revenue of $61.46 million during the quarter, compared to the consensus estimate of $57.85 million. Analysts forecast that AxoGen will post -0.37 EPS for the current year.

Insider Buying and Selling

In other AxoGen news, Director John Johnson sold 11,050 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $43.26, for a total transaction of $478,023.00. Following the completion of the sale, the director directly owned 11,050 shares in the company, valued at $478,023. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathy Johnson Weiler sold 16,344 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $44.09, for a total value of $720,606.96. Following 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 29,041 shares of company stock worth $1,268,792. Corporate insiders own 2.44% of the company’s stock.

Hedge Funds Weigh In On AxoGen

Institutional investors have recently modified their holdings of the business. Stephens Investment Management Group LLC bought a new position in AxoGen in the fourth quarter valued at about $5,043,000. Legato Capital Management LLC acquired a new position in AxoGen during the fourth quarter worth about $1,323,000. SG Americas Securities LLC raised its stake in AxoGen by 459.9% during the fourth quarter. SG Americas Securities LLC now owns 65,480 shares of the medical equipment provider’s stock worth $2,143,000 after acquiring an additional 53,786 shares in the last quarter. F&V Capital Management LLC bought a new position in shares of AxoGen in the fourth quarter worth about $5,793,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of AxoGen in the fourth quarter worth about $800,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

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.