AxoGen (NASDAQ:AXGN) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of AxoGen (NASDAQ:AXGN) from a buy rating to a hold rating in a research note published on Saturday.

Several other equities analysts have also recently weighed in on the company. Wells Fargo & Company raised their price objective on AxoGen from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday. HC Wainwright raised their price objective on AxoGen from $39.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday. Citizens Jmp lifted their price target on AxoGen from $42.00 to $50.00 and gave the stock a “market outperform” rating in a report on Wednesday. Canaccord Genuity Group lifted their price target on AxoGen from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Lake Street Capital lifted their price target on AxoGen from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Nine analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, AxoGen has a consensus rating of “Moderate Buy” and a consensus target price of $46.50.

AxoGen Price Performance

Shares of NASDAQ AXGN opened at $43.28 on Friday. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of -67.63 and a beta of 1.17. The business has a 50-day moving average of $33.65 and a 200-day moving average of $30.48. The company has a debt-to-equity ratio of 0.08, a current ratio of 7.10 and a quick ratio of 3.31. AxoGen has a fifty-two week low of $9.22 and a fifty-two week high of $45.83.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.05). The company had revenue of $61.46 million during the quarter, compared to the consensus estimate of $57.85 million. AxoGen had a negative net margin of 13.21% and a negative return on equity of 9.63%. As a group, sell-side analysts predict that AxoGen will post -0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Erick Wayne Devinney sold 5,221 shares of AxoGen stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $32.84, for a total transaction of $171,457.64. Following the completion of the transaction, the insider owned 262,781 shares in the company, valued at approximately $8,629,728.04. This trade represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.78% of the company’s stock.

Hedge Funds Weigh In On AxoGen

Hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada boosted its holdings 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 worth $704,000 after acquiring an additional 4,723 shares during the period. AQR Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 7,453 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of AxoGen by 4.4% during 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 acquiring an additional 1,057 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of AxoGen by 104,810.0% during the first 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 during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of AxoGen by 37.3% during the second quarter. JPMorgan Chase & Co. now owns 379,070 shares of the medical equipment provider’s stock worth $4,113,000 after acquiring an additional 103,072 shares during the period. 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.