AxoGen, Inc. (NASDAQ:AXGN) Given Average Recommendation of “Moderate Buy” by Analysts

AxoGen, Inc. (NASDAQ:AXGN) has earned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $35.5556.

A number of analysts have recently issued reports on the stock. Lake Street Capital lifted their price objective on shares of AxoGen from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AxoGen in a report on Monday, December 29th. Citigroup reiterated a “market outperform” rating on shares of AxoGen in a report on Thursday, October 30th. Citizens Jmp upped their price objective on shares of AxoGen from $26.00 to $34.00 and gave the company a “market outperform” rating in a research report on Thursday, October 30th. Finally, Canaccord Genuity Group lifted their target price on AxoGen from $27.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, December 5th.

Insider Activity

In other AxoGen news, EVP Marc A. Began sold 9,278 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $31.21, for a total value of $289,566.38. Following the transaction, the executive vice president directly owned 31,507 shares of the company’s stock, valued at $983,333.47. This represents a 22.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Amy Mcbride Wendell sold 43,684 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $29.31, for a total value of $1,280,378.04. Following the transaction, the director owned 93,826 shares of the company’s stock, valued at approximately $2,750,040.06. This trade represents a 31.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 401,216 shares of company stock worth $11,398,034 over the last quarter. Corporate insiders own 2.78% of the company’s stock.

Institutional Investors Weigh In On AxoGen

A number of institutional investors have recently modified their holdings of AXGN. First Light Asset Management LLC lifted its position in shares of AxoGen by 28.2% during the third quarter. First Light Asset Management LLC now owns 5,805,730 shares of the medical equipment provider’s stock worth $103,574,000 after purchasing an additional 1,276,487 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its stake in AxoGen by 20.4% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,958,406 shares of the medical equipment provider’s stock valued at $34,938,000 after buying an additional 332,498 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in AxoGen by 183.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider’s stock worth $20,953,000 after buying an additional 1,250,968 shares during the last quarter. Wasatch Advisors LP lifted its holdings in AxoGen by 14.3% during the 3rd quarter. Wasatch Advisors LP now owns 1,639,351 shares of the medical equipment provider’s stock worth $29,246,000 after buying an additional 205,569 shares during the last quarter. Finally, Soleus Capital Management L.P. grew its position in shares of AxoGen by 0.9% in the 2nd quarter. Soleus Capital Management L.P. now owns 1,459,395 shares of the medical equipment provider’s stock worth $15,834,000 after acquiring an additional 13,278 shares in the last quarter. Institutional investors and hedge funds own 80.29% of the company’s stock.

AxoGen Trading Up 0.4%

Shares of AXGN opened at $33.51 on Friday. AxoGen has a 12 month low of $9.22 and a 12 month high of $34.71. The stock’s 50-day moving average is $29.02 and its two-hundred day moving average is $19.99. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.09 and a quick ratio of 2.64. The stock has a market cap of $1.55 billion, a PE ratio of -670.20 and a beta of 1.00.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Wednesday, October 29th. The medical equipment provider reported $0.12 EPS for the quarter, beating the consensus estimate of $0.09 by $0.03. The business had revenue of $60.08 million for the quarter, compared to the consensus estimate of $56.90 million. AxoGen had a negative return on equity of 1.90% and a negative net margin of 0.98%. Equities analysts forecast that AxoGen will post -0.29 earnings per share for the current fiscal year.

About AxoGen

AxoGen, Inc is a Florida-based medical technology company that develops and commercializes surgical solutions for peripheral nerve damage. Founded in 2002 and headquartered in Alachua, Florida, the company focuses on restoring nerve function and improving patient outcomes through innovative biologic and engineered products. AxoGen’s offerings address a range of traumatic and iatrogenic injuries, offering alternatives to traditional nerve autografts.

The company’s core product portfolio includes the Avance® Nerve Graft, a decellularized human nerve allograft designed to bridge nerve gaps without the need for a secondary harvest site, and the Axoguard® Nerve Connector and Protector devices, which facilitate nerve coaptation and protect repaired sites from surrounding scar tissue.