BidaskClub cut shares of AxoGen (NASDAQ:AXGN) from a strong-buy rating to a buy rating in a research report report published on Thursday morning.

Several other equities research analysts have also recently commented on AXGN. Cantor Fitzgerald set a $37.00 target price on AxoGen and gave the company a buy rating in a research note on Monday, January 8th. Leerink Swann restated an outperform rating and issued a $23.00 target price (up previously from $22.00) on shares of AxoGen in a research note on Saturday, September 30th. Wedbush restated a buy rating and issued a $27.00 target price (up previously from $22.00) on shares of AxoGen in a research note on Tuesday, November 21st. Lake Street Capital boosted their price target on AxoGen from $22.00 to $26.00 and gave the stock a buy rating in a research report on Tuesday, November 21st. Finally, Jefferies Group started coverage on AxoGen in a research report on Thursday, November 30th. They set a buy rating and a $35.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $29.33.

AxoGen (NASDAQ:AXGN) traded up $0.25 during midday trading on Thursday, reaching $28.00. The company’s stock had a trading volume of 203,048 shares, compared to its average volume of 306,610. The company has a current ratio of 3.55, a quick ratio of 2.95 and a debt-to-equity ratio of 1.93. AxoGen has a 12-month low of $8.75 and a 12-month high of $31.70.

AxoGen (NASDAQ:AXGN) last released its earnings results on Wednesday, November 1st. The medical equipment provider reported ($0.06) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.06). The firm had revenue of $16.05 million for the quarter, compared to analysts’ expectations of $15.55 million. AxoGen had a negative return on equity of 91.00% and a negative net margin of 24.74%. The company’s revenue was up 43.2% compared to the same quarter last year. equities analysts expect that AxoGen will post -0.31 EPS for the current year.

In other AxoGen news, Director Jamie Mark Grooms sold 38,405 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $26.35, for a total transaction of $1,011,971.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Guido J. Neels sold 1,150,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $19.74, for a total value of $22,701,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,293,990 shares of company stock worth $26,494,898 in the last ninety days. Insiders own 9.33% of the company’s stock.

Several large investors have recently bought and sold shares of the business. Nationwide Fund Advisors increased its position in shares of AxoGen by 5.5% during the 2nd quarter. Nationwide Fund Advisors now owns 14,874 shares of the medical equipment provider’s stock worth $249,000 after purchasing an additional 774 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of AxoGen by 6.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,616 shares of the medical equipment provider’s stock worth $395,000 after purchasing an additional 1,335 shares during the last quarter. Voya Investment Management LLC increased its position in shares of AxoGen by 7.4% during the 2nd quarter. Voya Investment Management LLC now owns 19,904 shares of the medical equipment provider’s stock worth $333,000 after purchasing an additional 1,370 shares during the last quarter. Rhumbline Advisers increased its position in shares of AxoGen by 11.4% during the 2nd quarter. Rhumbline Advisers now owns 28,720 shares of the medical equipment provider’s stock worth $481,000 after purchasing an additional 2,945 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in shares of AxoGen by 1.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 260,484 shares of the medical equipment provider’s stock worth $5,040,000 after acquiring an additional 2,979 shares during the last quarter. 66.00% of the stock is currently owned by hedge funds and other institutional investors.

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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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