AxoGen, Inc. (AXGN) Receives Average Recommendation of “Buy” from Brokerages

AxoGen, Inc. (NASDAQ:AXGN) has earned a consensus rating of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $17.20.

AXGN has been the topic of several research reports. Wedbush restated an “outperform” rating and set a $14.00 price target (down from $17.00) on shares of AxoGen in a report on Friday, May 19th. ValuEngine upgraded AxoGen from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Cantor Fitzgerald initiated coverage on AxoGen in a report on Thursday, June 29th. They set an “overweight” rating and a $18.00 price target on the stock. BidaskClub cut AxoGen from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Finally, Leerink Swann initiated coverage on AxoGen in a report on Monday, July 31st. They set an “outperform” rating and a $22.00 price target on the stock.

In other news, Director Robert James Rudelius sold 16,143 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $18.00, for a total transaction of $290,574.00. Following the sale, the director now directly owns 43,273 shares in the company, valued at $778,914. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 9.33% of the company’s stock.

Several institutional investors have recently bought and sold shares of AXGN. Bank of America Corp DE lifted its stake in shares of AxoGen by 8.7% in the first quarter. Bank of America Corp DE now owns 10,183 shares of the medical equipment provider’s stock worth $106,000 after acquiring an additional 814 shares during the period. Parametric Portfolio Associates LLC lifted its stake in shares of AxoGen by 0.9% in the first quarter. Parametric Portfolio Associates LLC now owns 10,843 shares of the medical equipment provider’s stock worth $113,000 after acquiring an additional 93 shares during the period. Thompson Davis & CO. Inc. lifted its stake in shares of AxoGen by 575.0% in the second quarter. Thompson Davis & CO. Inc. now owns 6,750 shares of the medical equipment provider’s stock worth $113,000 after acquiring an additional 5,750 shares during the period. Campbell & CO Investment Adviser LLC lifted its stake in shares of AxoGen by 3.2% in the first quarter. Campbell & CO Investment Adviser LLC now owns 11,055 shares of the medical equipment provider’s stock worth $116,000 after acquiring an additional 341 shares during the period. Finally, TFS Capital LLC acquired a new position in shares of AxoGen in the first quarter worth approximately $120,000. 66.77% of the stock is currently owned by institutional investors.

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AxoGen (NASDAQ:AXGN) opened at 18.35 on Wednesday. The firm’s market capitalization is $609.95 million. The firm’s 50-day moving average is $16.15 and its 200-day moving average is $13.84. AxoGen has a 52-week low of $7.65 and a 52-week high of $18.75.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings results on Wednesday, August 2nd. The medical equipment provider reported ($0.06) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. The company had revenue of $15.20 million for the quarter, compared to analysts’ expectations of $14.40 million. AxoGen had a negative return on equity of 114.64% and a negative net margin of 27.50%. The business’s quarterly revenue was up 46.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.09) earnings per share. On average, equities analysts expect that AxoGen will post ($0.31) earnings per share for the current year.

About AxoGen

AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The company?s surgical nerve repair solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed 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 nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.

Analyst Recommendations for AxoGen (NASDAQ:AXGN)

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