AxoGen, Inc. (NASDAQ:AXGN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

AxoGen, Inc. (NASDAQ:AXGN) has been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $51.5556.

A number of equities research analysts have commented on AXGN shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of AxoGen in a research report on Wednesday. HC Wainwright lifted their price target on shares of AxoGen from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $55.00 price target on shares of AxoGen in a research report on Wednesday, July 29th. Wall Street Zen raised AxoGen from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Finally, Citizens Jmp raised their target price on AxoGen from $50.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 30th.

Insider Transactions at AxoGen

In related news, EVP Marc A. Began sold 67,500 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $47.34, for a total value of $3,195,450.00. Following the sale, the executive vice president owned 50,135 shares in the company, valued at $2,373,390.90. This represents a 57.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathy Johnson Weiler sold 14,150 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $45.30, for a total value of $640,995.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 95,003 shares of company stock worth $4,482,997. Insiders own 2.44% of the company’s stock.

Hedge Funds Weigh In On AxoGen

Institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada grew its stake in shares of AxoGen by 14.2% during the 1st quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock worth $704,000 after purchasing an additional 4,723 shares during the period. AQR Capital Management LLC raised its holdings in AxoGen by 45.3% during the first quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider’s stock worth $442,000 after purchasing an additional 7,453 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of AxoGen by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock valued at $466,000 after buying an additional 1,057 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of AxoGen by 104,810.0% in the first quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider’s stock valued at $194,000 after purchasing an additional 10,481 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in AxoGen by 37.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 379,070 shares of the medical equipment provider’s stock valued at $4,113,000 after buying an additional 103,072 shares in the last quarter. Hedge funds and other institutional investors own 80.29% of the company’s stock.

AxoGen Stock Performance

Shares of AXGN stock opened at $51.47 on Monday. AxoGen has a 52 week low of $15.24 and a 52 week high of $52.91. The company has a 50-day simple moving average of $44.76 and a 200 day simple moving average of $39.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.04 and a current ratio of 6.60. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of -75.69 and a beta of 1.11.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. The business had revenue of $69.73 million during the quarter, compared to analysts’ expectations of $67.10 million. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. On average, sell-side analysts predict that AxoGen will post -0.45 earnings per share for the current year.

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.