AxoGen (NASDAQ:AXGN – Get Free Report) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.
Separately, Cantor Fitzgerald reiterated an “overweight” rating and set a $16.00 price objective on shares of AxoGen in a research report on Tuesday, August 22nd. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $16.50.
AxoGen Trading Down 1.7 %
Shares of NASDAQ:AXGN opened at $5.20 on Thursday. The stock has a market capitalization of $223.50 million, a price-to-earnings ratio of -9.29 and a beta of 0.68. AxoGen has a 1-year low of $5.14 and a 1-year high of $13.66. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.71 and a current ratio of 3.60. The company has a 50 day moving average price of $6.96 and a 200 day moving average price of $8.35.
AxoGen (NASDAQ:AXGN – Get Free Report) last issued its earnings results on Monday, August 7th. The medical equipment provider reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.07. AxoGen had a negative net margin of 15.86% and a negative return on equity of 19.48%. The firm had revenue of $38.16 million during the quarter, compared to analysts’ expectations of $39.40 million. On average, research analysts anticipate that AxoGen will post -0.63 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, Director William P. Mr. Burke purchased 10,000 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were acquired at an average cost of $6.56 per share, for a total transaction of $65,600.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $65,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have bought 30,000 shares of company stock worth $188,900. Corporate insiders own 7.21% of the company’s stock.
Institutional Investors Weigh In On AxoGen
Several institutional investors and hedge funds have recently modified their holdings of the business. Wrapmanager Inc. lifted its position in AxoGen by 2.8% during the 1st quarter. Wrapmanager Inc. now owns 39,143 shares of the medical equipment provider’s stock worth $370,000 after acquiring an additional 1,067 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in AxoGen by 2.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 42,906 shares of the medical equipment provider’s stock worth $351,000 after acquiring an additional 1,187 shares during the last quarter. Principal Financial Group Inc. lifted its position in AxoGen by 12.8% during the 2nd quarter. Principal Financial Group Inc. now owns 12,795 shares of the medical equipment provider’s stock worth $117,000 after acquiring an additional 1,450 shares during the last quarter. Rhumbline Advisers lifted its position in AxoGen by 2.9% during the 2nd quarter. Rhumbline Advisers now owns 54,379 shares of the medical equipment provider’s stock worth $496,000 after acquiring an additional 1,527 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in AxoGen by 7.2% during the 4th quarter. JPMorgan Chase & Co. now owns 23,912 shares of the medical equipment provider’s stock worth $238,000 after acquiring an additional 1,612 shares during the last quarter. Institutional investors and hedge funds own 83.77% of the company’s stock.
AxoGen Company Profile
AxoGen, Inc, together with its subsidiaries, develops and markets technologies for peripheral nerve regeneration and repair worldwide. The company’s products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral 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 peripheral nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.