AxoGen, Inc. (NASDAQ:AXGN) Receives $37.67 Average Price Target from Analysts

AxoGen, Inc. (NASDAQ:AXGN) has been assigned a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $39.3750.

AXGN has been the subject of a number of research reports. Lake Street Capital upped their target price on shares of AxoGen from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Wells Fargo & Company assumed coverage on AxoGen in a report on Thursday, February 19th. They issued an “overweight” rating and a $40.00 price target for the company. Raymond James Financial reiterated an “outperform” rating and set a $41.00 price objective on shares of AxoGen in a research report on Monday, February 23rd. Citigroup reissued an “outperform” rating on shares of AxoGen in a research note on Tuesday, February 24th. Finally, Canaccord Genuity Group raised their target price on AxoGen from $27.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, December 5th.

AxoGen Stock Down 2.1%

Shares of NASDAQ AXGN opened at $28.55 on Monday. The company’s 50-day simple moving average is $32.78 and its 200-day simple moving average is $25.58. AxoGen has a 52-week low of $9.22 and a 52-week high of $36.00. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of -83.97 and a beta of 0.98. The company has a quick ratio of 3.31, a current ratio of 5.11 and a debt-to-equity ratio of 0.51.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings data on Tuesday, February 24th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). AxoGen had a negative return on equity of 13.44% and a negative net margin of 6.97%.The firm had revenue of $59.90 million during the quarter, compared to analyst estimates of $59.90 million. Equities analysts predict that AxoGen will post -0.29 EPS for the current fiscal year.

Insider Transactions at AxoGen

In related news, Director Amy Mcbride Wendell sold 43,684 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $29.31, for a total transaction of $1,280,378.04. Following the completion of the sale, the director directly owned 93,826 shares in the company, valued at approximately $2,750,040.06. This trade represents a 31.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathy Johnson Weiler sold 46,653 shares of AxoGen stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $29.55, for a total transaction of $1,378,596.15. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 301,680 shares of company stock valued at $9,174,052 in the last three months. 2.78% of the stock is currently owned by corporate insiders.

Institutional Trading of AxoGen

Hedge funds and other institutional investors have recently modified their holdings of the business. Future Financial Wealth Managment LLC purchased a new stake in AxoGen in the 3rd quarter valued at about $27,000. MCF Advisors LLC purchased a new stake in shares of AxoGen in the 4th quarter valued at approximately $30,000. Aquatic Capital Management LLC lifted its holdings 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 worth $31,000 after acquiring an additional 1,269 shares during the last quarter. Arax Advisory Partners boosted its position in shares of AxoGen by 362.4% during the 4th 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 period. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of AxoGen during the 4th quarter worth approximately $36,000. 80.29% of the stock is owned by institutional investors and hedge funds.

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.