AxoGen (NASDAQ:AXGN) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of AxoGen (NASDAQ:AXGN) from a buy rating to a strong-buy rating in a research note released on Friday morning.

Other analysts also recently issued reports about the stock. Citigroup reiterated a “market outperform” rating on shares of AxoGen in a report on Thursday, October 30th. Citizens Jmp increased their price objective on AxoGen from $26.00 to $34.00 and gave the company a “market outperform” rating in a research report on Thursday, October 30th. Lake Street Capital boosted their price objective on AxoGen from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. JMP Securities set a $34.00 price target on shares of AxoGen in a report on Thursday, October 30th. Finally, HC Wainwright upped their price target on shares of AxoGen from $26.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.56.

AxoGen Trading Up 2.6%

AxoGen stock opened at $32.83 on Friday. AxoGen has a 12-month low of $9.22 and a 12-month high of $34.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.09 and a quick ratio of 2.64. The stock has a market capitalization of $1.51 billion, a PE ratio of -656.60 and a beta of 1.00. The firm has a 50 day simple moving average of $30.58 and a 200-day simple moving average of $21.37.

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

Insider Activity at AxoGen

In other news, Director Paul Thomas sold 21,399 shares of AxoGen stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $29.61, for a total transaction of $633,624.39. Following the completion of the sale, the director directly owned 13,528 shares in the company, valued at $400,564.08. The trade was a 61.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marc A. Began sold 9,278 shares of AxoGen stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $31.21, for a total transaction of $289,566.38. Following the completion of the sale, the executive vice president owned 31,507 shares of the company’s stock, valued at $983,333.47. This trade represents a 22.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 399,759 shares of company stock worth $11,371,779. 2.78% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AxoGen

A number of institutional investors have recently modified their holdings of AXGN. Future Financial Wealth Managment LLC acquired a new stake in shares of AxoGen in the third quarter valued at about $27,000. Aquatic Capital Management LLC increased its holdings in shares of AxoGen by 287.8% during the 3rd quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock worth $31,000 after purchasing an additional 1,269 shares during the period. State of Alaska Department of Revenue acquired a new position in AxoGen in the 3rd quarter valued at approximately $43,000. FNY Investment Advisers LLC bought a new stake in shares of AxoGen in the 3rd quarter worth approximately $64,000. Finally, AdvisorNet Financial Inc grew its holdings in shares of AxoGen by 500.0% during the 3rd quarter. AdvisorNet Financial Inc now owns 4,800 shares of the medical equipment provider’s stock worth $86,000 after purchasing an additional 4,000 shares in the last quarter. Institutional investors own 80.29% of the company’s stock.

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.