AxoGen, Inc. (NASDAQ:AXGN) – Investment analysts at Leerink Swann reduced their Q1 2018 earnings per share (EPS) estimates for shares of AxoGen in a report released on Wednesday, Zacks Investment Research reports. Leerink Swann analyst R. Newitter now forecasts that the medical equipment provider will post earnings of ($0.15) per share for the quarter, down from their prior forecast of ($0.09). Leerink Swann has a “Outperform” rating and a $30.00 price objective on the stock. Leerink Swann also issued estimates for AxoGen’s Q2 2018 earnings at ($0.08) EPS, FY2018 earnings at ($0.38) EPS and FY2019 earnings at ($0.26) EPS.
AxoGen (NASDAQ:AXGN) last posted its quarterly earnings results on Wednesday, February 28th. The medical equipment provider reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.02. The business had revenue of $16.97 million for the quarter, compared to the consensus estimate of $16.38 million. AxoGen had a negative return on equity of 70.63% and a negative net margin of 17.29%. The company’s quarterly revenue was up 48.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.10) EPS.
Several other analysts also recently weighed in on AXGN. Lake Street Capital set a $38.00 price target on AxoGen and gave the company a “buy” rating in a research note on Friday, March 2nd. JMP Securities boosted their price target on AxoGen from $27.00 to $34.00 and gave the company a “market outperform” rating in a research note on Thursday, March 1st. BidaskClub upgraded AxoGen from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 23rd. William Blair assumed coverage on AxoGen in a research note on Monday, February 5th. They set an “outperform” rating on the stock. Finally, Cantor Fitzgerald set a $37.00 price target on AxoGen and gave the company a “buy” rating in a research note on Monday, January 8th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. AxoGen presently has a consensus rating of “Buy” and a consensus price target of $31.71.
AxoGen (NASDAQ:AXGN) traded up $0.55 during trading on Monday, reaching $35.70. The company’s stock had a trading volume of 193,791 shares, compared to its average volume of 308,082. The company has a current ratio of 4.07, a quick ratio of 3.53 and a debt-to-equity ratio of 0.79. The stock has a market cap of $1,188.42, a P/E ratio of -119.00 and a beta of 0.10. AxoGen has a twelve month low of $9.70 and a twelve month high of $36.15.
In other news, CFO Jamie Mark Grooms sold 95,712 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $26.84, for a total value of $2,568,910.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold 169,407 shares of company stock worth $4,593,013 in the last 90 days. Company insiders own 9.33% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. William Blair Investment Management LLC purchased a new stake in shares of AxoGen in the fourth quarter worth about $5,081,000. MetLife Investment Advisors LLC purchased a new stake in shares of AxoGen in the fourth quarter worth about $388,000. Gotham Asset Management LLC purchased a new stake in shares of AxoGen in the fourth quarter worth about $249,000. Paloma Partners Management Co purchased a new stake in shares of AxoGen in the fourth quarter worth about $215,000. Finally, Two Sigma Advisers LP boosted its stake in shares of AxoGen by 62.0% in the fourth quarter. Two Sigma Advisers LP now owns 116,500 shares of the medical equipment provider’s stock worth $3,297,000 after buying an additional 44,600 shares during the last quarter. Hedge funds and other institutional investors own 68.01% of the company’s stock.
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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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