AxoGen (AXGN) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of AxoGen (NASDAQ:AXGN) in a report issued on Friday.

A number of other research firms have also issued reports on AXGN. Leerink Swann raised their price target on shares of AxoGen from $26.00 to $30.00 and gave the stock an outperform rating in a research report on Tuesday, November 21st. Lake Street Capital raised their price objective on shares of AxoGen from $22.00 to $26.00 and gave the stock a buy rating in a research note on Tuesday, November 21st. Roth Capital reaffirmed a buy rating and set a $21.00 price objective (up previously from $18.00) on shares of AxoGen in a research note on Tuesday, September 12th. Wedbush reaffirmed a buy rating and set a $27.00 price objective (up previously from $22.00) on shares of AxoGen in a research note on Tuesday, November 21st. Finally, Jefferies Group started coverage on shares of AxoGen in a research note on Thursday, November 30th. They set a buy rating and a $35.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $29.33.

AxoGen (NASDAQ AXGN) traded up $2.40 on Friday, reaching $31.05. 627,600 shares of the company’s stock were exchanged, compared to its average volume of 429,800. AxoGen has a 12 month low of $8.75 and a 12 month high of $31.15. The company has a quick ratio of 2.95, a current ratio of 3.55 and a debt-to-equity ratio of 1.93. The stock has a market cap of $1,060.00, a price-to-earnings ratio of -73.93 and a beta of 0.89.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings results on Wednesday, November 1st. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). AxoGen had a negative net margin of 24.74% and a negative return on equity of 91.00%. The company had revenue of $16.05 million during the quarter, compared to analyst estimates of $15.55 million. The firm’s quarterly revenue was up 43.2% compared to the same quarter last year. equities research analysts anticipate that AxoGen will post -0.31 EPS for the current fiscal year.

In other news, Director Jamie Mark Grooms sold 21,290 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $26.22, for a total transaction of $558,223.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Guido J. Neels sold 1,150,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $19.74, for a total transaction of $22,701,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,293,990 shares of company stock worth $26,494,898 in the last ninety days. Corporate insiders own 9.33% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of AXGN. Bank of New York Mellon Corp grew its stake in AxoGen by 80.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 160,354 shares of the medical equipment provider’s stock valued at $2,685,000 after acquiring an additional 71,609 shares during the period. Citadel Advisors LLC acquired a new stake in AxoGen in the 2nd quarter valued at $947,000. New York State Common Retirement Fund grew its stake in AxoGen by 26.6% in the 2nd quarter. New York State Common Retirement Fund now owns 31,400 shares of the medical equipment provider’s stock valued at $526,000 after acquiring an additional 6,599 shares during the period. Menta Capital LLC grew its stake in AxoGen by 7.1% in the 2nd quarter. Menta Capital LLC now owns 116,845 shares of the medical equipment provider’s stock valued at $1,957,000 after acquiring an additional 7,777 shares during the period. Finally, Columbia Partners L L C Investment Management grew its stake in AxoGen by 11.8% in the 2nd quarter. Columbia Partners L L C Investment Management now owns 286,146 shares of the medical equipment provider’s stock valued at $4,792,000 after acquiring an additional 30,176 shares during the period. 66.00% of the stock is currently owned by institutional investors and hedge funds.

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About AxoGen

AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The company’s surgical nerve repair solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.

Analyst Recommendations for AxoGen (NASDAQ:AXGN)

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