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

AxoGen, Inc. (NASDAQ:AXGN) has received a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $51.00.

Several analysts have commented on the stock. Wall Street Zen upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Citigroup reissued a “market outperform” rating on shares of AxoGen in a research report on Thursday, July 30th. Citizens Jmp raised their target price on AxoGen from $50.00 to $55.00 and gave the company a “market outperform” rating in a research note on Thursday, July 30th. Weiss Ratings restated a “sell (d-)” rating on shares of AxoGen in a research note on Friday, May 29th. Finally, Canaccord Genuity Group lifted their price target on AxoGen from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, July 30th.

Insider Buying and Selling at AxoGen

In other news, Director Amy Mcbride Wendell sold 13,353 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $48.42, for a total value of $646,552.26. Following the sale, the director directly owned 107,976 shares of the company’s stock, valued at $5,228,197.92. This represents a 11.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathy Johnson Weiler sold 14,150 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $45.30, for a total transaction of $640,995.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 95,003 shares of company stock valued at $4,482,997. 2.44% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AxoGen

Several hedge funds have recently bought and sold shares of AXGN. Commonwealth Equity Services LLC lifted its position in AxoGen by 1.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 21,473 shares of the medical equipment provider’s stock valued at $703,000 after acquiring an additional 371 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of AxoGen by 6.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,943 shares of the medical equipment provider’s stock worth $296,000 after purchasing an additional 525 shares in the last quarter. Nykredit A S bought a new stake in shares of AxoGen in the 2nd quarter worth $30,000. Arax Advisory Partners raised its stake in shares of AxoGen by 362.4% in the fourth quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 819 shares during the last quarter. Finally, Brooklyn Investment Group raised its stake in shares of AxoGen by 4.2% in the fourth quarter. Brooklyn Investment Group now owns 20,568 shares of the medical equipment provider’s stock worth $688,000 after purchasing an additional 823 shares during the last quarter. Institutional investors own 80.29% of the company’s stock.

AxoGen Trading Down 0.9%

Shares of NASDAQ:AXGN traded down $0.47 on Monday, hitting $49.93. The company had a trading volume of 67,161 shares, compared to its average volume of 1,099,636. The firm’s 50-day simple moving average is $44.11 and its two-hundred day simple moving average is $38.98. AxoGen has a 1 year low of $13.64 and a 1 year high of $51.06. The company has a quick ratio of 5.04, a current ratio of 6.60 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of -73.43 and a beta of 1.11.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. The firm had revenue of $69.73 million for the quarter, compared to analyst estimates of $67.10 million. Equities analysts anticipate that AxoGen will post -0.45 earnings per share for the current fiscal year.

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.