AxoGen (NASDAQ:AXGN) Now Covered by Analysts at Mizuho

Mizuho started coverage on shares of AxoGen (NASDAQ:AXGN) in a research report sent to investors on Monday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $40.00 price target on the medical equipment provider’s stock.

A number of other equities analysts have also recently weighed in on AXGN. HC Wainwright lifted their price target on shares of AxoGen from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Raymond James Financial raised their price objective on AxoGen from $20.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. JMP Securities set a $34.00 target price on AxoGen in a research note on Thursday, October 30th. Jefferies Financial Group restated a “buy” rating on shares of AxoGen in a report on Wednesday, October 29th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of AxoGen in a research report on Thursday, October 30th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.25.

AxoGen Trading Up 2.6%

Shares of AXGN traded up $0.72 on Monday, reaching $28.41. 203,435 shares of the company’s stock were exchanged, compared to its average volume of 836,680. The company has a current ratio of 4.09, a quick ratio of 2.64 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $1.31 billion, a P/E ratio of -569.30 and a beta of 1.06. The business has a 50 day moving average price of $21.18 and a two-hundred day moving average price of $15.88. AxoGen has a 12 month low of $9.22 and a 12 month high of $29.32.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings data on Wednesday, October 29th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. AxoGen had a negative net margin of 0.98% and a negative return on equity of 1.90%. The firm had revenue of $60.08 million for the quarter, compared to analysts’ expectations of $56.90 million. Research analysts anticipate that AxoGen will post -0.29 earnings per share for the current year.

Insider Buying and Selling at AxoGen

In related news, Director William P. Mr. Burke sold 40,235 shares of the stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $20.55, for a total transaction of $826,829.25. Following the completion of the transaction, the director directly owned 100 shares in the company, valued at approximately $2,055. This trade represents a 99.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 133,600 shares of company stock worth $2,839,945 over the last ninety days. 2.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AxoGen

A number of large investors have recently bought and sold shares of AXGN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of AxoGen by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock valued at $466,000 after purchasing an additional 1,057 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in AxoGen by 7.1% during the second quarter. The Manufacturers Life Insurance Company now owns 16,194 shares of the medical equipment provider’s stock worth $176,000 after purchasing an additional 1,079 shares during the last quarter. Arizona State Retirement System grew its position in AxoGen by 10.0% in the third quarter. Arizona State Retirement System now owns 12,801 shares of the medical equipment provider’s stock valued at $228,000 after purchasing an additional 1,164 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in AxoGen by 11.7% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 11,193 shares of the medical equipment provider’s stock valued at $200,000 after buying an additional 1,173 shares during the last quarter. Finally, Aquatic Capital Management LLC lifted its position in AxoGen by 287.8% during the 3rd quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 1,269 shares in the last quarter. Institutional investors and hedge funds own 80.29% of the company’s stock.

About AxoGen

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company’s products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed peripheral nerves; AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.