AxoGen (NASDAQ:AXGN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of AxoGen (NASDAQ:AXGN) from a hold rating to a buy rating in a report released on Sunday morning.

Several other equities research analysts have also recently weighed in on the stock. Zacks Research upgraded shares of AxoGen from a “strong sell” rating to a “hold” rating in a research report on Friday, May 29th. Lake Street Capital upped their target price on shares of AxoGen from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. HC Wainwright increased their price target on shares of AxoGen from $39.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Citizens Jmp raised their price target on shares of AxoGen from $42.00 to $50.00 and gave the company a “market outperform” rating in a report on Wednesday, April 29th. Finally, Raymond James Financial restated an “outperform” rating and issued a $48.00 price objective on shares of AxoGen in a research report on Wednesday, April 29th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, AxoGen currently has an average rating of “Moderate Buy” and a consensus price target of $46.50.

AxoGen Price Performance

Shares of AXGN stock opened at $41.15 on Friday. The stock’s fifty day moving average is $42.13 and its 200-day moving average is $37.22. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.33 and a current ratio of 7.10. The stock has a market capitalization of $2.19 billion, a PE ratio of -64.30 and a beta of 1.09. AxoGen has a 52 week low of $12.39 and a 52 week high of $46.95.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). The business had revenue of $61.46 million during the quarter, compared to analyst estimates of $57.85 million. AxoGen had a negative net margin of 13.21% and a negative return on equity of 9.63%. Equities research analysts expect that AxoGen will post -0.37 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Kathy Johnson Weiler sold 16,344 shares of AxoGen stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $44.09, for a total transaction of $720,606.96. Following the completion of the sale, the director owned 16,344 shares in the company, valued at $720,606.96. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Johnson sold 11,050 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $43.26, for a total transaction of $478,023.00. Following the sale, the director directly owned 11,050 shares of the company’s stock, valued at approximately $478,023. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,041 shares of company stock worth $1,268,792 over the last three months. 2.44% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AxoGen

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Light Asset Management LLC raised its position in shares of AxoGen by 1.2% during the 2nd quarter. First Light Asset Management LLC now owns 4,529,243 shares of the medical equipment provider’s stock valued at $49,142,000 after acquiring an additional 55,028 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of AxoGen by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 2,869,955 shares of the medical equipment provider’s stock worth $93,934,000 after purchasing an additional 190,557 shares during the period. Morgan Stanley grew its stake in shares of AxoGen by 6.5% during the fourth quarter. Morgan Stanley now owns 2,586,870 shares of the medical equipment provider’s stock worth $84,668,000 after purchasing an additional 157,029 shares during the period. Balyasny Asset Management L.P. increased its holdings in AxoGen by 183.9% in the second quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider’s stock valued at $20,953,000 after purchasing an additional 1,250,968 shares during the last quarter. Finally, Wasatch Advisors LP increased its holdings in AxoGen by 101.1% in the first quarter. Wasatch Advisors LP now owns 1,857,350 shares of the medical equipment provider’s stock valued at $61,534,000 after purchasing an additional 933,778 shares during the last quarter. 80.29% of the stock is owned by institutional investors.

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.