AxoGen (NASDAQ:AXGN) Rating Increased to Strong-Buy at Wall Street Zen

AxoGen (NASDAQ:AXGN) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Friday.

Several other brokerages have also recently commented on AXGN. JMP Securities set a $34.00 price objective on shares of AxoGen in a research note on Thursday, October 30th. Lake Street Capital upped their price target on shares of AxoGen from $30.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, December 4th. HC Wainwright lifted their price objective on AxoGen from $26.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Weiss Ratings restated a “sell (e+)” rating on shares of AxoGen in a research note on Monday, December 29th. Finally, Jefferies Financial Group raised their target price on AxoGen from $29.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, AxoGen has an average rating of “Moderate Buy” and an average target price of $35.56.

AxoGen Stock Performance

Shares of NASDAQ AXGN traded up $0.83 during mid-day trading on Friday, hitting $32.83. The stock had a trading volume of 1,504,639 shares, compared to its average volume of 809,851. The firm has a market cap of $1.51 billion, a PE ratio of -656.60 and a beta of 1.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.64 and a current ratio of 4.09. The company has a 50 day moving average of $30.58 and a two-hundred day moving average of $21.37. AxoGen has a twelve month low of $9.22 and a twelve month high of $34.71.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The company had revenue of $60.08 million during the quarter, compared to analysts’ expectations of $56.90 million. AxoGen had a negative return on equity of 1.90% and a negative net margin of 0.98%. Research analysts predict that AxoGen will post -0.29 EPS for the current fiscal year.

Insider Buying and Selling at AxoGen

In other AxoGen news, Director William P. Mr. Burke sold 40,235 shares of the stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $20.55, for a total transaction of $826,829.25. Following the transaction, the director directly owned 100 shares of the company’s stock, valued at $2,055. This trade represents a 99.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph A. Tyndall sold 25,108 shares of AxoGen stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $30.98, for a total transaction of $777,845.84. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 399,759 shares of company stock worth $11,371,779. 2.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Future Financial Wealth Managment LLC acquired a new stake in AxoGen during the 3rd quarter worth $27,000. Aquatic Capital Management LLC grew its holdings in shares of AxoGen by 287.8% during the 3rd quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock worth $31,000 after purchasing an additional 1,269 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of AxoGen during the third quarter valued at about $43,000. FNY Investment Advisers LLC purchased a new position in shares of AxoGen during the 3rd quarter worth approximately $64,000. Finally, AdvisorNet Financial Inc increased its holdings in AxoGen by 500.0% in the 3rd quarter. AdvisorNet Financial Inc now owns 4,800 shares of the medical equipment provider’s stock valued at $86,000 after purchasing an additional 4,000 shares during the last quarter. 80.29% of the stock is owned by hedge funds and other institutional investors.

AxoGen Company Profile

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.