AxoGen (NASDAQ:AXGN) Upgraded at Wall Street Zen

AxoGen (NASDAQ:AXGN) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Friday.

Several other research analysts have also commented on the stock. Citigroup reissued a “market outperform” rating on shares of AxoGen in a research note on Thursday, October 30th. Jefferies Financial Group increased their target price on shares of AxoGen from $29.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Raymond James Financial reissued an “outperform” rating and issued a $36.00 price target on shares of AxoGen in a research report on Thursday, December 4th. Canaccord Genuity Group upped their price objective on AxoGen from $27.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Finally, Citizens Jmp increased their price objective on AxoGen from $26.00 to $34.00 and gave the company a “market outperform” rating in a research note on Thursday, October 30th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.56.

AxoGen Trading Up 2.6%

Shares of AXGN stock traded up $0.83 on Friday, hitting $32.83. The stock had a trading volume of 1,504,639 shares, compared to its average volume of 809,851. The company’s 50 day moving average price is $30.58 and its 200-day moving average price is $21.37. AxoGen has a 1 year low of $9.22 and a 1 year high of $34.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.09 and a quick ratio of 2.64. The firm has a market capitalization of $1.51 billion, a P/E ratio of -656.60 and a beta of 1.00.

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

Insider Activity at AxoGen

In related news, CFO Lindsey Marie Hartley sold 14,812 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $29.86, for a total transaction of $442,286.32. Following the completion of the sale, the chief financial officer owned 31,376 shares in the company, valued at $936,887.36. The trade was a 32.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathy Johnson Weiler sold 46,653 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $29.55, for a total value of $1,378,596.15. The SEC filing for this sale provides additional information. Insiders sold 399,759 shares of company stock worth $11,371,779 over the last three months. Company insiders own 2.78% of the company’s stock.

Institutional Trading of AxoGen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AXGN. Future Financial Wealth Managment LLC purchased a new stake in shares of AxoGen during the 3rd quarter worth approximately $27,000. Aquatic Capital Management LLC grew its position in shares of AxoGen by 287.8% in the 3rd quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock valued at $31,000 after buying an additional 1,269 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in AxoGen during the 3rd quarter worth $43,000. FNY Investment Advisers LLC acquired a new stake in AxoGen during the 3rd quarter worth $64,000. Finally, AdvisorNet Financial Inc lifted its position in AxoGen by 500.0% in the third quarter. AdvisorNet Financial Inc now owns 4,800 shares of the medical equipment provider’s stock valued at $86,000 after acquiring an additional 4,000 shares during the last quarter. 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.