AxoGen, Inc. (NASDAQ:AXGN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of AxoGen, Inc. (NASDAQ:AXGN) have been given an average rating of “Moderate Buy” by the eleven brokerages that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation and nine have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $46.50.

AXGN has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on AxoGen from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Lake Street Capital upped their price target on AxoGen from $40.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Wall Street Zen downgraded AxoGen from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Zacks Research lowered AxoGen from a “hold” rating to a “strong sell” rating in a report on Monday, April 27th. Finally, Canaccord Genuity Group boosted their price objective on AxoGen from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th.

Insider Buying and Selling at AxoGen

In other news, Director Amy Mcbride Wendell sold 1,647 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $42.60, for a total transaction of $70,162.20. Following the completion of the transaction, the director directly owned 93,826 shares of the company’s stock, valued at approximately $3,996,987.60. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Erick Wayne Devinney sold 5,221 shares of AxoGen stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $32.84, for a total transaction of $171,457.64. Following the sale, the insider owned 262,781 shares in the company, valued at approximately $8,629,728.04. This trade represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 34,262 shares of company stock worth $1,440,250 over the last three months. 2.44% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. First Light Asset Management LLC boosted its holdings in 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 valued at $103,574,000 after purchasing an additional 1,276,487 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in shares of 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 period. Wasatch Advisors LP lifted its position in shares of AxoGen by 101.1% during the 1st quarter. Wasatch Advisors LP now owns 1,857,350 shares of the medical equipment provider’s stock worth $61,534,000 after buying an additional 933,778 shares during the period. Millennium Management LLC boosted its stake in AxoGen by 2,255.8% in the 4th quarter. Millennium Management LLC now owns 971,358 shares of the medical equipment provider’s stock valued at $31,793,000 after buying an additional 930,126 shares in the last quarter. Finally, Bessemer Group Inc. acquired a new stake in AxoGen in the 3rd quarter valued at $14,468,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

AxoGen Price Performance

NASDAQ:AXGN opened at $40.99 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 7.10 and a quick ratio of 5.33. AxoGen has a one year low of $9.22 and a one year high of $45.83. The company has a fifty day moving average price of $35.43 and a 200 day moving average price of $32.04. The stock has a market cap of $2.18 billion, a P/E ratio of -64.05 and a beta of 1.17.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.05). AxoGen had a negative return on equity of 9.63% and a negative net margin of 13.21%.The company had revenue of $61.46 million during the quarter, compared to analyst estimates of $57.85 million. Analysts anticipate that AxoGen will post -0.3 earnings per share for the current 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.