Brokerages Set AxoGen, Inc. (NASDAQ:AXGN) PT at $46.50

Shares of AxoGen, Inc. (NASDAQ:AXGN) have been assigned a consensus rating 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 rating, one has assigned a hold rating and nine have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $46.50.

Several research firms have recently issued reports on AXGN. Zacks Research upgraded shares of AxoGen from a “strong sell” rating to a “hold” rating in a report on Friday, May 29th. Citigroup reissued an “outperform” rating on shares of AxoGen in a research note on Wednesday, April 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of AxoGen in a research note on Friday, May 29th. Canaccord Genuity Group increased their target price on shares of AxoGen from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Citizens Jmp increased their target price on shares of AxoGen from $42.00 to $50.00 and gave the company a “market outperform” rating in a research note on Wednesday, April 29th.

Insider Activity at AxoGen

In related news, Director John Johnson sold 11,050 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $43.26, for a total transaction of $478,023.00. Following the completion of the sale, the director directly owned 11,050 shares of the company’s stock, valued at $478,023. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy Mcbride Wendell sold 1,647 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $42.60, for a total transaction of $70,162.20. Following the sale, the director directly owned 93,826 shares of the company’s stock, valued at approximately $3,996,987.60. This represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 29,041 shares of company stock valued at $1,268,792 over the last ninety days. Insiders own 2.44% of the company’s stock.

Institutional Trading of AxoGen

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its position in shares of AxoGen by 14.2% in the 1st quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock valued at $704,000 after acquiring an additional 4,723 shares in the last quarter. AQR Capital Management LLC lifted its position in AxoGen by 45.3% in the 1st quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider’s stock worth $442,000 after buying an additional 7,453 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in AxoGen by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock worth $466,000 after buying an additional 1,057 shares in the last quarter. Jones Financial Companies Lllp lifted its position in AxoGen by 104,810.0% in the 1st quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider’s stock worth $194,000 after buying an additional 10,481 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in AxoGen by 37.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 379,070 shares of the medical equipment provider’s stock worth $4,113,000 after buying an additional 103,072 shares in the last quarter. 80.29% of the stock is owned by institutional investors and hedge funds.

AxoGen Stock Performance

AxoGen stock opened at $43.00 on Wednesday. The firm has a 50 day simple moving average of $39.33 and a 200-day simple moving average of $34.60. The company has a debt-to-equity ratio of 0.08, a current ratio of 7.10 and a quick ratio of 5.33. The stock has a market capitalization of $2.29 billion, a PE ratio of -67.19 and a beta of 1.12. AxoGen has a 12-month low of $9.22 and a 12-month high of $45.83.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.05). The company had revenue of $61.46 million during the quarter, compared to the consensus estimate of $57.85 million. AxoGen had a negative net margin of 13.21% and a negative return on equity of 9.63%. As a group, equities research analysts expect that AxoGen will post -0.37 EPS 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.