AxoGen (NASDAQ:AXGN) had its price target lifted by Lake Street Capital from $22.00 to $26.00 in a research report issued on Tuesday, November 21st, MarketBeat Ratings reports. The firm currently has a “buy” rating on the medical equipment provider’s stock. Lake Street Capital’s target price points to a potential downside of 1.70% from the stock’s current price.
AXGN has been the topic of a number of other reports. Cantor Fitzgerald reiterated a “buy” rating and issued a $18.00 price target on shares of AxoGen in a report on Monday, August 21st. Leerink Swann lifted their price target on AxoGen from $23.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, November 2nd. Wedbush reiterated a “buy” rating and issued a $27.00 price target (up from $22.00) on shares of AxoGen in a report on Tuesday, November 21st. Roth Capital restated a “buy” rating and set a $21.00 target price (up from $18.00) on shares of AxoGen in a research note on Tuesday, September 12th. Finally, BidaskClub downgraded AxoGen from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $26.17.
Shares of AxoGen (AXGN) traded up $0.35 during trading hours on Tuesday, hitting $26.45. The stock had a trading volume of 356,425 shares, compared to its average volume of 216,265. AxoGen has a twelve month low of $8.15 and a twelve month high of $27.60. The company has a current ratio of 3.55, a quick ratio of 2.95 and a debt-to-equity ratio of 1.93.
AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Wednesday, November 1st. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.06). AxoGen had a negative return on equity of 91.00% and a negative net margin of 24.74%. The business had revenue of $16.05 million for the quarter, compared to the consensus estimate of $15.55 million. AxoGen’s quarterly revenue was up 43.2% compared to the same quarter last year. equities research analysts forecast that AxoGen will post -0.31 EPS for the current year.
In other AxoGen news, Director Guido J. Neels sold 1,150,000 shares of AxoGen stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $19.74, for a total transaction of $22,701,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert James Rudelius sold 16,143 shares of AxoGen stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $18.00, for a total value of $290,574.00. Following the sale, the director now directly owns 43,273 shares of the company’s stock, valued at approximately $778,914. The disclosure for this sale can be found here. 9.33% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of AXGN. Parametric Portfolio Associates LLC lifted its position in AxoGen by 0.9% during the 1st 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. American International Group Inc. lifted its position in AxoGen by 7.7% during the 1st quarter. American International Group Inc. now owns 14,941 shares of the medical equipment provider’s stock worth $156,000 after acquiring an additional 1,068 shares during the period. Vanguard Group Inc. lifted its position in AxoGen by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 1,121,824 shares of the medical equipment provider’s stock worth $11,723,000 after acquiring an additional 35,076 shares during the period. Geode Capital Management LLC lifted its position in AxoGen by 7.6% during the 1st quarter. Geode Capital Management LLC now owns 220,143 shares of the medical equipment provider’s stock worth $2,300,000 after acquiring an additional 15,528 shares during the period. Finally, UBS Group AG lifted its position in AxoGen by 8.3% during the 1st quarter. UBS Group AG now owns 16,141 shares of the medical equipment provider’s stock worth $169,000 after acquiring an additional 1,234 shares during the period. 66.00% of the stock is owned by institutional investors.
AxoGen Company Profile
AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The companys 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.
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