StockNews.com Downgrades AxoGen (NASDAQ:AXGN) to Hold

StockNews.com cut shares of AxoGen (NASDAQ:AXGN) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

Separately, Cantor Fitzgerald reiterated an overweight rating and issued a $12.00 target price on shares of AxoGen in a research note on Friday, January 19th.

AxoGen Price Performance

Shares of NASDAQ AXGN opened at $5.87 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.23 and a current ratio of 3.43. AxoGen has a fifty-two week low of $3.45 and a fifty-two week high of $10.83. The firm has a market capitalization of $256.55 million, a PE ratio of -11.74 and a beta of 1.07. The stock’s 50-day simple moving average is $7.58 and its 200-day simple moving average is $7.49.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings results on Tuesday, March 5th. The medical equipment provider reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.11. The firm had revenue of $42.92 million for the quarter, compared to the consensus estimate of $42.70 million. AxoGen had a negative return on equity of 22.18% and a negative net margin of 12.99%. As a group, equities research analysts forecast that AxoGen will post -0.46 EPS for the current fiscal year.

Insider Activity at AxoGen

In related news, VP Michael Patrick Donovan sold 36,310 shares of AxoGen stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $8.81, for a total transaction of $319,891.10. Following the completion of the transaction, the vice president now directly owns 35,708 shares of the company’s stock, valued at $314,587.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Karen L. Zaderej sold 39,280 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $7.68, for a total value of $301,670.40. Following the completion of the transaction, the chief executive officer now owns 1,124,565 shares of the company’s stock, valued at approximately $8,636,659.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael Patrick Donovan sold 36,310 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $8.81, for a total transaction of $319,891.10. Following the completion of the transaction, the vice president now directly owns 35,708 shares of the company’s stock, valued at approximately $314,587.48. The disclosure for this sale can be found here. Insiders have sold a total of 111,201 shares of company stock worth $928,054 over the last three months. 7.00% of the stock is currently owned by corporate insiders.

Institutional Trading of AxoGen

A number of hedge funds have recently added to or reduced their stakes in AXGN. SG Americas Securities LLC purchased a new position in shares of AxoGen in the 3rd quarter worth about $51,000. Nisa Investment Advisors LLC raised its holdings in AxoGen by 534.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,805 shares of the medical equipment provider’s stock valued at $53,000 after acquiring an additional 6,575 shares in the last quarter. Eagle Asset Management Inc. acquired a new stake in AxoGen in the third quarter valued at $63,000. Sherbrooke Park Advisers LLC bought a new stake in AxoGen during the third quarter valued at $83,000. Finally, Sentry Investment Management LLC bought a new stake in AxoGen during the fourth quarter valued at $131,000. 80.29% of the stock is owned by institutional investors and hedge funds.

About AxoGen

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company's products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral 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 peripheral nerves; 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; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.