AxoGen, Inc. (NASDAQ:AXGN)‘s stock had its “buy” rating reiterated by investment analysts at Roth Capital in a report released on Tuesday. They currently have a $21.00 price objective on the medical equipment provider’s stock, up from their previous price objective of $18.00. Roth Capital’s price objective would suggest a potential upside of 14.60% from the stock’s current price.

Other equities research analysts have also issued reports about the company. BidaskClub lowered AxoGen from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Leerink Swann assumed coverage on AxoGen in a research note on Monday, July 31st. They issued an “outperform” rating and a $22.00 price objective for the company. Wedbush restated an “outperform” rating and issued a $14.00 price objective (down from $17.00) on shares of AxoGen in a research note on Friday, May 19th. Cantor Fitzgerald assumed coverage on AxoGen in a research note on Thursday, June 29th. They issued an “overweight” rating and a $18.00 price objective for the company. Finally, ValuEngine upgraded AxoGen from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $17.20.

AxoGen (NASDAQ AXGN) opened at 18.30 on Tuesday. The stock’s market capitalization is $608.29 million. AxoGen has a 12 month low of $7.65 and a 12 month high of $18.75. The stock has a 50 day moving average price of $16.19 and a 200 day moving average price of $13.89.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings data on Wednesday, August 2nd. The medical equipment provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. The firm had revenue of $15.20 million during the quarter, compared to analyst estimates of $14.40 million. AxoGen had a negative return on equity of 114.64% and a negative net margin of 27.50%. AxoGen’s revenue was up 46.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.09) EPS. On average, equities research analysts forecast that AxoGen will post ($0.31) earnings per share for the current fiscal year.

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In other news, Director Robert James Rudelius sold 16,143 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $18.00, for a total value of $290,574.00. Following the completion of the sale, the director now directly owns 43,273 shares in the company, valued at approximately $778,914. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 9.33% of the company’s stock.

A number of hedge funds have recently modified their holdings of AXGN. Russell Investments Group Ltd. increased its stake in AxoGen by 238.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 611,678 shares of the medical equipment provider’s stock worth $10,245,000 after buying an additional 431,057 shares in the last quarter. Castleark Management LLC purchased a new stake in AxoGen in the 2nd quarter worth $5,426,000. Lyon Street Capital LLC purchased a new stake in AxoGen in the 1st quarter worth $2,166,000. Renaissance Technologies LLC purchased a new stake in AxoGen in the 1st quarter worth $1,473,000. Finally, EAM Investors LLC increased its stake in AxoGen by 86.7% in the 2nd quarter. EAM Investors LLC now owns 293,880 shares of the medical equipment provider’s stock worth $4,922,000 after buying an additional 136,453 shares in the last quarter. Institutional investors and hedge funds own 66.77% of the company’s stock.

AxoGen Company Profile

AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The company’s surgical nerve repair solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.

Analyst Recommendations for AxoGen (NASDAQ:AXGN)

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