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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AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The companys 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.
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