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

Several other equities research analysts have also commented on AXGN. Leerink Swann restated an “outperform” rating and issued a $70.00 price target on shares of AxoGen in a research note on Tuesday, June 26th. Cantor Fitzgerald restated a “buy” rating and issued a $45.00 price target on shares of AxoGen in a research note on Thursday, August 9th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $44.67.

Shares of NASDAQ:AXGN opened at $35.79 on Thursday. AxoGen has a 52 week low of $19.35 and a 52 week high of $56.85. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of -115.45 and a beta of -0.39.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Wednesday, August 1st. The medical equipment provider reported ($0.09) EPS for the quarter, missing the 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 firm had revenue of $20.58 million during the quarter, compared to analyst estimates of $21.25 million. During the same quarter in the previous year, the business posted ($0.04) EPS. AxoGen’s revenue for the quarter was up 35.7% compared to the same quarter last year. Equities research analysts forecast that AxoGen will post -0.61 EPS for the current fiscal year.

In related news, Director Amy Mcbride Wendell acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, August 14th. The shares were acquired at an average price of $36.89 per share, for a total transaction of $184,450.00. Following the completion of the purchase, the director now directly owns 18,333 shares of the company’s stock, valued at $676,304.37. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 7.86% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. increased its stake in shares of AxoGen by 844.4% during the second quarter. Meeder Asset Management Inc. now owns 2,427 shares of the medical equipment provider’s stock valued at $122,000 after acquiring an additional 2,170 shares during the period. Mckinley Capital Management LLC Delaware acquired a new position in shares of AxoGen during the second quarter valued at approximately $156,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of AxoGen by 41.6% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,575 shares of the medical equipment provider’s stock valued at $167,000 after acquiring an additional 1,345 shares during the period. Bank of Montreal Can acquired a new position in shares of AxoGen during the second quarter valued at approximately $180,000. Finally, Jane Street Group LLC acquired a new position in shares of AxoGen during the second quarter valued at approximately $201,000. Institutional investors and hedge funds own 82.83% of the company’s stock.

AxoGen Company Profile

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.

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Analyst Recommendations for AxoGen (NASDAQ:AXGN)

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