AxoGen (NASDAQ:AXGN) Stock Rating Upgraded by Barclays

AxoGen (NASDAQ:AXGN) was upgraded by Barclays to a “strong-buy” rating in a research note issued to investors on Tuesday, Zacks reports.

Several other research firms have also issued reports on AXGN. HC Wainwright boosted their target price on shares of AxoGen from $50.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Citigroup reissued a “market outperform” rating on shares of AxoGen in a research report on Thursday, July 30th. Raymond James Financial boosted their price objective on AxoGen from $48.00 to $53.00 and gave the company an “outperform” rating in a research note on Friday, September 25th. Truist Financial decreased their target price on AxoGen from $60.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, October 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of AxoGen in a report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, AxoGen currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.70.

AxoGen Stock Performance

NASDAQ:AXGN opened at $36.18 on Tuesday. The company has a market capitalization of $1.95 billion, a PE ratio of -53.21 and a beta of 1.17. The company has a 50 day simple moving average of $45.55 and a two-hundred day simple moving average of $41.90. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.04 and a current ratio of 6.60. AxoGen has a fifty-two week low of $15.27 and a fifty-two week high of $52.91.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. The firm had revenue of $69.73 million for the quarter, compared to the consensus estimate of $67.10 million. Research analysts anticipate that AxoGen will post -0.44 earnings per share for the current year.

Insider Activity at AxoGen

In other AxoGen news, Director Kathy Weiler sold 14,150 shares of AxoGen stock in a transaction on Friday, August 7th. The shares were sold at an average price of $45.30, for a total value of $640,995.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy Wendell sold 13,353 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $48.42, for a total transaction of $646,552.26. Following the transaction, the director owned 107,976 shares in the company, valued at $5,228,197.92. This represents a 11.01% decrease in their position. 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 three months, insiders have sold 98,503 shares of company stock valued at $4,656,947. Company insiders own 2.44% of the company’s stock.

Institutional Trading of AxoGen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Artemis Investment Management LLP grew its stake in AxoGen by 27.5% in the third quarter. Artemis Investment Management LLP now owns 1,780,992 shares of the medical equipment provider’s stock valued at $74,659,000 after acquiring an additional 384,200 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of AxoGen during the second quarter valued at approximately $272,000. Tidal Investments LLC bought a new stake in shares of AxoGen during the second quarter valued at approximately $225,000. Arizona State Retirement System raised its position in shares of AxoGen by 7.6% during the second quarter. Arizona State Retirement System now owns 13,604 shares of the medical equipment provider’s stock worth $628,000 after purchasing an additional 966 shares during the period. Finally, Nykredit A S acquired a new position in shares of AxoGen during the second quarter worth approximately $30,000. 80.29% of the stock is owned by institutional investors.

AxoGen Company Profile

AxoGen, Inc is a medical technology company focused on repairing and regenerating damaged peripheral nerves. The company develops and commercializes products for use by surgeons treating traumatic nerve injuries and other conditions in which nerve function has been compromised.

AxoGen’s product portfolio includes Avance Nerve Graft, a processed human nerve allograft designed to bridge gaps in damaged nerves without requiring tissue to be taken from another part of the patient’s body. Its offerings also include Axoguard Nerve Connector and Axoguard Nerve Protector products, which are designed to support nerve repair and protect nerves during healing, as well as other products for peripheral nerve reconstruction.

Founded in 2002, AxoGen is headquartered in Alachua, Florida.