AxoGen, Inc. (NASDAQ:AXGN) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of AxoGen, Inc. (NASDAQ:AXGN) have received an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $35.5556.

Several research firms recently weighed in on AXGN. Canaccord Genuity Group increased their price target on AxoGen from $27.00 to $37.00 and gave the company a “buy” rating in a report on Friday, December 5th. Jefferies Financial Group increased their target price on shares of AxoGen from $29.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. JMP Securities set a $34.00 price target on shares of AxoGen in a report on Thursday, October 30th. Citigroup reaffirmed a “market outperform” rating on shares of AxoGen in a research note on Thursday, October 30th. Finally, Raymond James Financial reissued an “outperform” rating and set a $36.00 price target on shares of AxoGen in a research note on Thursday, December 4th.

AxoGen Stock Performance

Shares of NASDAQ:AXGN opened at $31.02 on Friday. The firm has a fifty day simple moving average of $29.77 and a two-hundred day simple moving average of $20.71. AxoGen has a 52 week low of $9.22 and a 52 week high of $34.71. The company has a quick ratio of 2.64, a current ratio of 4.09 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $1.43 billion, a P/E ratio of -620.40 and a beta of 1.00.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Wednesday, October 29th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.03. AxoGen had a negative net margin of 0.98% and a negative return on equity of 1.90%. The firm had revenue of $60.08 million for the quarter, compared to analysts’ expectations of $56.90 million. On average, analysts expect that AxoGen will post -0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Amy Mcbride Wendell sold 43,684 shares of AxoGen stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $29.31, for a total transaction of $1,280,378.04. Following the completion of the sale, the director owned 93,826 shares of the company’s stock, valued at approximately $2,750,040.06. The trade was a 31.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael D. Dale sold 61,463 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $31.21, for a total value of $1,918,260.23. Following the completion of the sale, the chief executive officer owned 88,537 shares of the company’s stock, valued at $2,763,239.77. The trade was a 40.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 401,216 shares of company stock worth $11,398,034 over the last ninety days. 2.78% of the stock is owned by insiders.

Institutional Investors Weigh In On AxoGen

A number of hedge funds have recently made changes to their positions in the stock. HighMark Wealth Management LLC increased its position in shares of AxoGen by 88.7% during the third quarter. HighMark Wealth Management LLC now owns 185,085 shares of the medical equipment provider’s stock worth $3,302,000 after purchasing an additional 87,000 shares in the last quarter. Acadian Asset Management LLC increased its position in AxoGen by 53.3% during the 2nd quarter. Acadian Asset Management LLC now owns 347,726 shares of the medical equipment provider’s stock valued at $3,772,000 after buying an additional 120,914 shares in the last quarter. Legal & General Group Plc raised its stake in AxoGen by 81.3% in the second quarter. Legal & General Group Plc now owns 185,481 shares of the medical equipment provider’s stock valued at $2,012,000 after buying an additional 83,175 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of AxoGen by 26.0% during the third quarter. Assenagon Asset Management S.A. now owns 1,289,072 shares of the medical equipment provider’s stock worth $22,997,000 after acquiring an additional 265,950 shares during the last quarter. Finally, Intech Investment Management LLC grew its stake in shares of AxoGen by 19.2% during the second quarter. Intech Investment Management LLC now owns 29,278 shares of the medical equipment provider’s stock worth $318,000 after acquiring an additional 4,725 shares during the last quarter. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

About AxoGen

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.