AxoGen, Inc. (NASDAQ:AXGN) Stock Has Consensus Price Target of $51.56 According to Analysts

Shares of AxoGen, Inc. (NASDAQ:AXGN) have been given an average rating of “Moderate Buy” by the twelve research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $51.56.

Several analysts have weighed in on the stock. Truist Financial initiated coverage on shares of AxoGen in a research note on Wednesday, August 26th. They set a “buy” rating and a $60.00 target price for the company. HC Wainwright upped their price objective on AxoGen from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Citizens Jmp increased their target price on AxoGen from $50.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AxoGen in a research note on Wednesday, August 26th. Finally, Citigroup reiterated a “market outperform” rating on shares of AxoGen in a research note on Thursday, July 30th.

Insider Activity

In other AxoGen news, Director Kathy Weiler sold 14,150 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $45.30, for a total transaction of $640,995.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy Wendell sold 13,353 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $48.42, for a total transaction of $646,552.26. Following the completion of the transaction, the director owned 107,976 shares of the company’s stock, valued at approximately $5,228,197.92. This trade represents a 11.01% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 98,503 shares of company stock worth $4,656,947 in the last 90 days. 2.44% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AxoGen

A number of hedge funds have recently made changes to their positions in AXGN. Sequoia Financial Advisors LLC acquired a new position in shares of AxoGen during the second quarter worth approximately $272,000. Tidal Investments LLC acquired a new stake in AxoGen in the 2nd quarter valued at approximately $225,000. Arizona State Retirement System raised its stake in AxoGen by 7.6% during the 2nd quarter. Arizona State Retirement System now owns 13,604 shares of the medical equipment provider’s stock valued at $628,000 after acquiring an additional 966 shares in the last quarter. Nykredit A S bought a new stake in AxoGen during the 2nd quarter valued at $30,000. Finally, Corient Private Wealth LP bought a new stake in AxoGen during the 2nd quarter valued at $418,000. Institutional investors own 80.29% of the company’s stock.

AxoGen Price Performance

Shares of AXGN stock opened at $43.32 on Friday. The firm has a market cap of $2.33 billion, a P/E ratio of -63.70 and a beta of 1.16. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.60 and a quick ratio of 5.04. AxoGen has a 1-year low of $15.27 and a 1-year high of $52.91. The firm has a fifty day moving average of $45.73 and a two-hundred day moving average of $41.35.

AxoGen (NASDAQ:AXGN) last issued its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.12. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. The business had revenue of $69.73 million for the quarter, compared to analyst estimates of $67.10 million. As a group, research analysts anticipate that AxoGen will post -0.45 earnings per share for the current fiscal year.

About AxoGen

AxoGen, Inc (NASDAQ: AXGN) is a medical technology company focused on the repair and regeneration of damaged peripheral nerves. The company develops and markets biologic and surgical products intended to help restore sensory and motor function following traumatic nerve injuries or surgical procedures.

Its product portfolio includes Avance Nerve Graft, a processed human nerve allograft used to bridge gaps in damaged nerves; Axoguard Nerve Connector, designed to protect and support the repair of smaller nerve injuries; and Axoguard Nerve Protector, a collagen-based product intended to help protect repaired nerves and reduce the effects of scar tissue.