AxoGen, Inc. (NASDAQ:AXGN) Stock Rated “Moderate Buy” by Sell-Side Brokerages

AxoGen, Inc. (NASDAQ:AXGN) has earned a consensus rating of “Moderate Buy” from the fifteen analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $51.73.

AXGN has been the subject of a number of research reports. Citigroup reiterated a “market outperform” rating on shares of AxoGen in a research report on Thursday, July 30th. Citizens Jmp boosted their price objective on shares of AxoGen from $50.00 to $55.00 and gave the company a “market outperform” rating in a research report on Thursday, July 30th. Truist Financial dropped their target price on AxoGen from $60.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, October 1st. Bank of America initiated coverage on shares of AxoGen in a research note on Monday, October 12th. They set a “buy” rating and a $52.00 price target on the stock. Finally, HC Wainwright lifted their price objective on AxoGen from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, July 30th.

Insider Buying and Selling

In other news, Director Joseph Tyndall sold 3,500 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $49.70, for a total value of $173,950.00. Following the completion of the sale, the director owned 10,650 shares in the company, valued at approximately $529,305. This trade represents a 24.73% 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 link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathy Weiler sold 14,150 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $45.30, for a total transaction of $640,995.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 98,503 shares of company stock worth $4,656,947 over the last three months. 2.44% of the stock is currently owned by corporate insiders.

Institutional Trading of AxoGen

A number of hedge funds have recently made changes to their positions in AXGN. State of Alaska Department of Revenue increased its stake in AxoGen by 16.9% during the third quarter. State of Alaska Department of Revenue now owns 2,833 shares of the medical equipment provider’s stock valued at $118,000 after purchasing an additional 409 shares during the last quarter. Artemis Investment Management LLP raised its holdings in shares of AxoGen by 27.5% during the third quarter. Artemis Investment Management LLP now owns 1,780,992 shares of the medical equipment provider’s stock valued at $74,659,000 after buying an additional 384,200 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in AxoGen during the 2nd quarter valued at $272,000. Tidal Investments LLC bought a new stake in shares of AxoGen during the second quarter valued at about $225,000. Finally, Arizona State Retirement System lifted its stake in shares of AxoGen by 7.6% in the 2nd quarter. Arizona State Retirement System now owns 13,604 shares of the medical equipment provider’s stock worth $628,000 after acquiring an additional 966 shares during the period. Institutional investors and hedge funds own 80.29% of the company’s stock.

AxoGen Trading Up 1.8%

NASDAQ AXGN opened at $35.24 on Tuesday. The company has a quick ratio of 5.04, a current ratio of 6.60 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $44.19 and a 200 day moving average price of $42.08. The stock has a market capitalization of $1.89 billion, a P/E ratio of -51.82 and a beta of 1.17. AxoGen has a 52-week low of $16.65 and a 52-week high of $52.91.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. The firm had revenue of $69.73 million for the quarter, compared to the consensus estimate of $67.10 million. AxoGen had a negative return on equity of 8.90% and a negative net margin of 13.36%. Equities research analysts expect that AxoGen will post -0.44 EPS for the current year.

AxoGen Company Profile

AxoGen, Inc is a medical technology company focused on repairing and regenerating damaged peripheral nerves. The company develops and commercializes products for use by surgeons treating traumatic nerve injuries and other conditions in which nerve function has been compromised.

AxoGen’s product portfolio includes Avance Nerve Graft, a processed human nerve allograft designed to bridge gaps in damaged nerves without requiring tissue to be taken from another part of the patient’s body. Its offerings also include Axoguard Nerve Connector and Axoguard Nerve Protector products, which are designed to support nerve repair and protect nerves during healing, as well as other products for peripheral nerve reconstruction.

Founded in 2002, AxoGen is headquartered in Alachua, Florida.