Citizens Jmp Boosts AxoGen (NASDAQ:AXGN) Price Target to $42.00

AxoGen (NASDAQ:AXGN) had its target price hoisted by investment analysts at Citizens Jmp from $34.00 to $42.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “market outperform” rating on the medical equipment provider’s stock. Citizens Jmp’s target price points to a potential upside of 25.17% from the company’s current price.

Several other brokerages have also commented on AXGN. Canaccord Genuity Group increased their price objective on shares of AxoGen from $27.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Wells Fargo & Company assumed coverage on shares of AxoGen in a report on Thursday. They set an “overweight” rating and a $40.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AxoGen in a research report on Monday, December 29th. Citigroup reiterated an “outperform” rating on shares of AxoGen in a research note on Tuesday. Finally, Mizuho assumed coverage on AxoGen in a report on Monday, December 1st. They issued an “outperform” rating and a $40.00 price target for the company. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.67.

AxoGen Stock Performance

Shares of AxoGen stock opened at $33.56 on Tuesday. The company has a market capitalization of $1.55 billion, a PE ratio of -670.82 and a beta of 1.00. AxoGen has a 52 week low of $9.22 and a 52 week high of $36.00. 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’s fifty day moving average is $33.02 and its two-hundred day moving average is $24.72.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings data on Tuesday, February 24th. The medical equipment provider reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.36). AxoGen had a negative return on equity of 1.90% and a negative net margin of 0.98%.The firm had revenue of $59.90 million for the quarter, compared to analysts’ expectations of $59.90 million. As a group, analysts expect that AxoGen will post -0.29 earnings per share for the current year.

Insider Activity

In related news, CEO Michael D. Dale sold 61,463 shares of the company’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 transaction of $1,918,260.23. Following the sale, the chief executive officer directly owned 88,537 shares in the company, valued at approximately $2,763,239.77. This represents a 40.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy Mcbride Wendell sold 43,684 shares of the 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 directly owned 93,826 shares in the company, valued at approximately $2,750,040.06. This represents a 31.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 301,680 shares of company stock worth $9,174,052 in the last quarter. Insiders own 2.78% of the company’s stock.

Institutional Investors Weigh In On AxoGen

Several institutional investors have recently modified their holdings of the company. Royal Bank of Canada lifted its stake in shares of AxoGen by 14.2% during the first quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock valued at $704,000 after buying an additional 4,723 shares during the period. AQR Capital Management LLC boosted its stake in shares of AxoGen by 45.3% in the first quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider’s stock valued at $442,000 after purchasing an additional 7,453 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in 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 worth $466,000 after purchasing an additional 1,057 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of AxoGen by 104,810.0% in the 1st quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider’s stock worth $194,000 after acquiring an additional 10,481 shares in the last quarter. Finally, AlphaQuest LLC boosted its holdings in shares of AxoGen by 882.2% in the 2nd quarter. AlphaQuest LLC now owns 6,276 shares of the medical equipment provider’s stock valued at $68,000 after buying an additional 5,637 shares during the period. Hedge funds and other institutional investors own 80.29% of the company’s stock.

AxoGen Company Profile

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.