Roth Capital Reiterates Buy Rating for AxoGen, Inc. (AXGN)
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 companys 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.
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