AxoGen (NASDAQ:AXGN) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen lowered shares of AxoGen (NASDAQ:AXGN) from a strong-buy rating to a buy rating in a research report sent to investors on Sunday,Wall Street Zen reports.

Several other equities research analysts also recently commented on the company. Citizens Jmp upped their target price on AxoGen from $50.00 to $55.00 and gave the company a “market outperform” rating in a report on Thursday, July 30th. Canaccord Genuity Group increased their price target on AxoGen from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Morgan Stanley cut AxoGen to a “hold” rating in a research note on Tuesday, September 29th. Leerink Partners boosted their price objective on AxoGen from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, October 29th. Finally, Barclays boosted their price objective on AxoGen from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. Thirteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.92.

AxoGen Price Performance

NASDAQ AXGN opened at $50.02 on Friday. The stock has a market capitalization of $2.99 billion, a P/E ratio of -76.95 and a beta of 1.21. AxoGen has a 1 year low of $23.00 and a 1 year high of $52.91. The business’s fifty day moving average is $42.79 and its two-hundred day moving average is $39.92. The company has a debt-to-equity ratio of 0.04, a quick ratio of 10.67 and a current ratio of 12.02.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings data on Wednesday, October 28th. The medical equipment provider reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. The company had revenue of $75.83 million during the quarter, compared to the consensus estimate of $73.45 million. AxoGen had a negative return on equity of 5.35% and a negative net margin of 11.96%. On average, research analysts forecast that AxoGen will post -0.36 earnings per share for the current fiscal year.

Insider Transactions at AxoGen

In other news, Director Amy Wendell sold 13,353 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $48.42, for a total transaction of $646,552.26. Following the transaction, the director directly owned 107,976 shares in the company, valued at $5,228,197.92. This represents a 11.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Joseph Tyndall sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $49.70, for a total transaction of $173,950.00. Following the completion of the sale, the director directly owned 10,650 shares in the company, valued at $529,305. This represents a 24.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.44% of the company’s stock.

Hedge Funds Weigh In On AxoGen

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of AxoGen during the 2nd quarter valued at $204,123,000. Bamco Inc. NY purchased a new stake in AxoGen during the 2nd quarter worth $34,190,000. TimesSquare Capital Management LLC acquired a new stake in AxoGen in the 2nd quarter valued at $31,863,000. Deutsche Bank AG acquired a new stake in AxoGen in the 2nd quarter valued at $30,106,000. Finally, Wellington Management Group LLP increased its holdings in AxoGen by 44.3% in the 2nd quarter. Wellington Management Group LLP now owns 1,391,654 shares of the medical equipment provider’s stock valued at $64,280,000 after purchasing an additional 427,089 shares in the last quarter. Institutional investors and hedge funds own 80.29% of the company’s stock.

AxoGen Company Profile

AxoGen, Inc (NASDAQ: AXGN) is a medical technology company focused on developing and commercializing products for the repair and regeneration of peripheral nerves. Its technologies are designed to help restore sensory and motor function following traumatic injuries, surgical procedures, and other conditions affecting peripheral nerves.

The company’s product portfolio includes Avance Nerve Graft, a processed human nerve allograft used to bridge gaps in damaged nerves without requiring tissue to be taken from another part of the patient’s body.