AxoGen, Inc. (NASDAQ:AXGN) Given Average Rating of “Buy” by Brokerages

Shares of AxoGen, Inc. (NASDAQ:AXGNGet Rating) have been given an average recommendation of “Buy” by the six analysts that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $17.75.

AXGN has been the subject of a number of research reports. StockNews.com began coverage on AxoGen in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Canaccord Genuity Group dropped their target price on AxoGen from $15.00 to $12.00 and set a “hold” rating for the company in a report on Wednesday, February 23rd. Finally, Canaccord Genuity Group raised AxoGen from a “hold” rating to a “buy” rating and raised their price target for the company from $10.00 to $15.00 in a report on Monday.

NASDAQ:AXGN traded down $0.06 during mid-day trading on Monday, hitting $8.97. 5,354 shares of the company’s stock traded hands, compared to its average volume of 345,276. The firm has a 50 day moving average of $8.07 and a two-hundred day moving average of $9.37. AxoGen has a 12 month low of $6.87 and a 12 month high of $23.94. The firm has a market capitalization of $376.53 million, a price-to-earnings ratio of -11.97 and a beta of 0.75. The company has a current ratio of 5.23, a quick ratio of 4.54 and a debt-to-equity ratio of 0.58.

AxoGen (NASDAQ:AXGNGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The medical equipment provider reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). AxoGen had a negative return on equity of 25.97% and a negative net margin of 24.98%. During the same period in the prior year, the company posted ($0.15) earnings per share. As a group, equities research analysts expect that AxoGen will post -0.72 earnings per share for the current year.

Several large investors have recently bought and sold shares of the company. Morgan Stanley lifted its holdings in AxoGen by 9.5% during the second quarter. Morgan Stanley now owns 85,173 shares of the medical equipment provider’s stock worth $1,841,000 after acquiring an additional 7,386 shares in the last quarter. Invesco Ltd. bought a new stake in shares of AxoGen in the second quarter valued at about $378,000. Wells Fargo & Company MN lifted its holdings in shares of AxoGen by 26.3% in the second quarter. Wells Fargo & Company MN now owns 99,483 shares of the medical equipment provider’s stock valued at $2,151,000 after purchasing an additional 20,734 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of AxoGen in the third quarter valued at about $249,000. Finally, Los Angeles Capital Management LLC increased its position in shares of AxoGen by 59.1% in the third quarter. Los Angeles Capital Management LLC now owns 21,002 shares of the medical equipment provider’s stock valued at $332,000 after acquiring an additional 7,800 shares during the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

AxoGen Company Profile (Get Rating)

AxoGen, Inc, together with its subsidiaries, develops and markets surgical solutions for physical damage or transection to peripheral nerves. The company's products include Avance Nerve Graft, a biologically active 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 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.

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