AxoGen, Inc. (AXGN) Receives $17.20 Average Target Price from Analysts
AxoGen, Inc. (NASDAQ:AXGN) has been given a consensus recommendation of “Buy” by the eight analysts that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $17.20.
Several brokerages have commented on AXGN. BidaskClub lowered shares of AxoGen from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Leerink Swann began coverage on shares of AxoGen in a research note on Monday, July 31st. They issued an “outperform” rating and a $22.00 price target on the stock. Roth Capital reiterated a “buy” rating and issued a $21.00 price target (up from $18.00) on shares of AxoGen in a research note on Tuesday. Wedbush reiterated an “outperform” rating and issued a $14.00 price target (down from $17.00) on shares of AxoGen in a research note on Friday, May 19th. Finally, Cantor Fitzgerald began coverage on shares of AxoGen in a research note on Thursday, June 29th. They issued an “overweight” rating and a $18.00 price target on the stock.
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AxoGen (NASDAQ:AXGN) traded up 0.82% during mid-day trading on Wednesday, reaching $18.50. 372,930 shares of the company were exchanged. The stock has a 50-day moving average of $16.39 and a 200 day moving average of $14.01. The firm’s market capitalization is $614.94 million. AxoGen has a 1-year low of $7.65 and a 1-year high of $18.75.
AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Wednesday, August 2nd. The medical equipment provider reported ($0.06) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. The company had revenue of $15.20 million for the quarter, compared to analyst estimates of $14.40 million. AxoGen had a negative net margin of 27.50% and a negative return on equity of 114.64%. The firm’s revenue was up 46.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.09) earnings per share. Equities research analysts forecast that AxoGen will post ($0.31) earnings per share for the current year.
In other news, Director Robert James Rudelius sold 16,143 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $778,914. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.33% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of AXGN. Bank of America Corp DE boosted its holdings in shares of AxoGen by 8.7% in the first quarter. Bank of America Corp DE now owns 10,183 shares of the medical equipment provider’s stock valued at $106,000 after acquiring an additional 814 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in shares of AxoGen by 0.9% in the first quarter. Parametric Portfolio Associates LLC now owns 10,843 shares of the medical equipment provider’s stock valued at $113,000 after acquiring an additional 93 shares during the period. Thompson Davis & CO. Inc. boosted its holdings in shares of AxoGen by 575.0% in the second quarter. Thompson Davis & CO. Inc. now owns 6,750 shares of the medical equipment provider’s stock valued at $113,000 after acquiring an additional 5,750 shares during the period. Campbell & CO Investment Adviser LLC boosted its holdings in shares of AxoGen by 3.2% in the first quarter. Campbell & CO Investment Adviser LLC now owns 11,055 shares of the medical equipment provider’s stock valued at $116,000 after acquiring an additional 341 shares during the period. Finally, TFS Capital LLC acquired a new stake in shares of AxoGen in the first quarter valued at approximately $120,000. 66.77% of the stock is owned by institutional investors and hedge funds.
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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