AxoGen, Inc. (NASDAQ:AXGN) Stock Has Consensus Price Target of $57.92

Shares of AxoGen, Inc. (NASDAQ:AXGN) have been assigned a consensus rating of “Moderate Buy” from the sixteen analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and thirteen have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $57.92.

AXGN has been the topic of several research analyst reports. Raymond James Financial reiterated an “outperform” rating and issued a $57.00 price objective on shares of AxoGen in a research note on Thursday, October 29th. Weiss Ratings restated a “sell (d-)” rating on shares of AxoGen in a research note on Wednesday, August 26th. Jefferies Financial Group restated a “buy” rating and issued a $60.00 target price on shares of AxoGen in a research note on Wednesday, October 28th. Wells Fargo & Company upped their price target on AxoGen from $48.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Finally, Lake Street Capital reiterated a “buy” rating and set a $58.00 price target on shares of AxoGen in a research note on Thursday, October 29th.

Insider Activity at AxoGen

In other AxoGen news, EVP Marc A. Began sold 67,500 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $47.34, for a total transaction of $3,195,450.00. Following the completion of the transaction, the executive vice president owned 50,135 shares in the company, valued at $2,373,390.90. This trade represents a 57.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Joseph A. Tyndall sold 3,500 shares of AxoGen stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $49.70, for a total transaction of $173,950.00. Following the completion of the transaction, the director owned 10,650 shares of the company’s stock, valued at $529,305. The trade was a 24.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 84,353 shares of company stock worth $4,015,952. Company insiders own 2.44% of the company’s stock.

Institutional Trading of AxoGen

Hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. lifted its stake in shares of AxoGen by 163.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 334,902 shares of the medical equipment provider’s stock valued at $14,039,000 after buying an additional 207,916 shares in the last quarter. Lisanti Capital Growth LLC boosted its holdings in AxoGen by 21.9% in the 3rd quarter. Lisanti Capital Growth LLC now owns 110,420 shares of the medical equipment provider’s stock worth $4,629,000 after buying an additional 19,855 shares during the period. Advisor Resource Council grew its stake in AxoGen by 6.8% in the 3rd quarter. Advisor Resource Council now owns 8,749 shares of the medical equipment provider’s stock valued at $367,000 after buying an additional 556 shares in the last quarter. Calamos Advisors LLC grew its stake in AxoGen by 15.8% in the 3rd quarter. Calamos Advisors LLC now owns 110,210 shares of the medical equipment provider’s stock valued at $4,620,000 after buying an additional 15,064 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in AxoGen by 46.0% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 30,150 shares of the medical equipment provider’s stock valued at $1,264,000 after buying an additional 9,500 shares in the last quarter. Institutional investors own 80.29% of the company’s stock.

AxoGen Stock Performance

AXGN traded up $1.27 during midday trading on Friday, reaching $50.02. The company had a trading volume of 1,665,040 shares, compared to its average volume of 1,910,176. AxoGen has a 12-month low of $23.00 and a 12-month high of $52.91. The business has a 50-day moving average price of $42.79 and a two-hundred day moving average price of $39.92. The stock has a market cap of $2.99 billion, a PE ratio of -76.95 and a beta of 1.21. The company has a debt-to-equity ratio of 0.04, a quick ratio of 10.67 and a current ratio of 12.02.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings results on Wednesday, October 28th. The medical equipment provider reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.08. AxoGen had a negative net margin of 11.96% and a negative return on equity of 5.35%. The company had revenue of $75.83 million during the quarter, compared to analyst estimates of $73.45 million. On average, sell-side analysts expect that AxoGen will post -0.36 earnings per share for the current fiscal year.

About AxoGen

AxoGen, Inc (NASDAQ: AXGN) is a medical technology company focused on developing and commercializing products for the repair and regeneration of peripheral nerves. Its technologies are designed to help restore sensory and motor function following traumatic injuries, surgical procedures, and other conditions affecting peripheral nerves.

The company’s product portfolio includes Avance Nerve Graft, a processed human nerve allograft used to bridge gaps in damaged nerves without requiring tissue to be taken from another part of the patient’s body.