AxoGen, Inc. (NASDAQ:AXGN) Stock Has Consensus Target Price of $51.73 According to Brokerages

Shares of AxoGen, Inc. (NASDAQ:AXGN) have been given an average recommendation of “Moderate Buy” by the fifteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $51.73.

Several analysts have issued reports on the stock. Canaccord Genuity Group increased their price objective on shares of AxoGen from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Raymond James Financial boosted their target price on shares of AxoGen from $48.00 to $53.00 and gave the stock an “outperform” rating in a research report on Friday, September 25th. Truist Financial decreased their target price on shares of AxoGen from $60.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, October 1st. HC Wainwright upped their target price 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. Finally, Citizens Jmp raised their price target on shares of AxoGen from $50.00 to $55.00 and gave the company a “market outperform” rating in a report on Thursday, July 30th.

AxoGen Trading Down 0.7%

Shares of AXGN stock traded down $0.26 during mid-day trading on Tuesday, reaching $36.85. The company’s stock had a trading volume of 270,864 shares, compared to its average volume of 1,141,342. The company’s 50 day simple moving average is $45.26 and its 200-day simple moving average is $41.97. AxoGen has a 12-month low of $15.27 and a 12-month high of $52.91. The company has a quick ratio of 5.04, a current ratio of 6.60 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.98 billion, a PE ratio of -54.08 and a beta of 1.17.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. The business had revenue of $69.73 million for the quarter, compared to the consensus estimate of $67.10 million. AxoGen had a negative return on equity of 8.90% and a negative net margin of 13.36%. On average, research analysts predict that AxoGen will post -0.44 EPS for the current fiscal year.

Insider Activity

In other news, Director Joseph A. Tyndall sold 3,500 shares of the firm’s 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 sale, the director directly owned 10,650 shares in the company, valued at $529,305. This trade represents a 24.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marc A. Began sold 67,500 shares of AxoGen stock in a transaction dated 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 directly owned 50,135 shares in the company, valued at approximately $2,373,390.90. The trade was a 57.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 98,503 shares of company stock worth $4,656,947. 2.44% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AxoGen

A number of hedge funds have recently bought and sold shares of AXGN. BlackRock Inc. acquired a new position in shares of AxoGen in the 2nd quarter valued at approximately $204,123,000. Wasatch Advisors LP boosted its stake in shares of AxoGen by 101.1% during the 1st quarter. Wasatch Advisors LP now owns 1,857,350 shares of the medical equipment provider’s stock valued at $61,534,000 after buying an additional 933,778 shares during the last quarter. Artemis Investment Management LLP boosted its stake in shares of AxoGen by 27.5% during the 3rd quarter. Artemis Investment Management LLP now owns 1,780,992 shares of the medical equipment provider’s stock valued at $74,659,000 after buying an additional 384,200 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of AxoGen by 44.3% during the 2nd quarter. Wellington Management Group LLP now owns 1,391,654 shares of the medical equipment provider’s stock valued at $64,280,000 after buying an additional 427,089 shares during the last quarter. Finally, Perceptive Advisors LLC acquired a new stake in shares of AxoGen during the fourth quarter worth approximately $25,665,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

About AxoGen

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.