AxoGen (NASDAQ:AXGN) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Thursday.

Several other analysts also recently weighed in on the stock. Leerink Swann reiterated an “outperform” rating and issued a $70.00 target price on shares of AxoGen in a report on Tuesday, June 26th. Cantor Fitzgerald reissued a “buy” rating and issued a $45.00 price target on shares of AxoGen in a research report on Thursday, August 9th. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $44.67.

AxoGen stock opened at $33.98 on Thursday. AxoGen has a fifty-two week low of $18.85 and a fifty-two week high of $56.85. The company has a market capitalization of $1.41 billion, a P/E ratio of -109.61 and a beta of -0.39.

AxoGen (NASDAQ:AXGN) last posted its earnings results on Wednesday, August 1st. The medical equipment provider reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.01). AxoGen had a negative net margin of 24.96% and a negative return on equity of 26.50%. The company had revenue of $20.58 million during the quarter, compared to analyst estimates of $21.25 million. During the same quarter last year, the business posted ($0.04) EPS. The firm’s revenue for the quarter was up 35.7% on a year-over-year basis. Equities analysts expect that AxoGen will post -0.61 earnings per share for the current fiscal year.

In other AxoGen news, Director Amy Mcbride Wendell purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was bought at an average price of $36.89 per share, with a total value of $184,450.00. Following the transaction, the director now directly owns 18,333 shares of the company’s stock, valued at approximately $676,304.37. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 7.86% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its position in shares of AxoGen by 18.3% during the 2nd quarter. BlackRock Inc. now owns 2,437,319 shares of the medical equipment provider’s stock worth $122,476,000 after purchasing an additional 377,275 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of AxoGen during the 2nd quarter worth $58,740,000. Renaissance Technologies LLC lifted its position in shares of AxoGen by 12.4% during the 2nd quarter. Renaissance Technologies LLC now owns 998,300 shares of the medical equipment provider’s stock worth $50,165,000 after purchasing an additional 110,500 shares during the last quarter. Eagle Asset Management Inc. lifted its position in shares of AxoGen by 237.8% during the 2nd quarter. Eagle Asset Management Inc. now owns 906,339 shares of the medical equipment provider’s stock worth $45,543,000 after purchasing an additional 638,019 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of AxoGen by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 903,086 shares of the medical equipment provider’s stock worth $45,380,000 after purchasing an additional 25,748 shares during the last quarter. 82.83% of the stock is owned by institutional investors.

About AxoGen

AxoGen, Inc develops and markets surgical solutions for peripheral nerve injuries. The company's surgical 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 damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.

Further Reading: Understanding Price to Earnings Ratio (PE)

Analyst Recommendations for AxoGen (NASDAQ:AXGN)

Receive News & Ratings for AxoGen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AxoGen and related companies with MarketBeat.com's FREE daily email newsletter.