AxoGen (NASDAQ:AXGN) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of AxoGen (NASDAQ:AXGN) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

Other equities analysts have also recently issued reports about the stock. Cantor Fitzgerald reissued an overweight rating and issued a $16.00 target price on shares of AxoGen in a research note on Tuesday, September 26th. SVB Leerink started coverage on AxoGen in a research report on Monday, October 16th. They issued an outperform rating and a $9.00 price objective for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $15.00.

AxoGen Trading Up 0.4 %

AxoGen stock opened at $5.40 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.60 and a quick ratio of 2.71. The firm has a 50-day moving average of $4.80 and a 200-day moving average of $7.18. The company has a market cap of $232.09 million, a price-to-earnings ratio of -9.64 and a beta of 0.80. AxoGen has a one year low of $3.45 and a one year high of $13.66.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings results on Monday, August 7th. The medical equipment provider reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.07. The firm had revenue of $38.16 million during the quarter, compared to the consensus estimate of $39.40 million. AxoGen had a negative return on equity of 19.48% and a negative net margin of 15.86%. On average, equities analysts expect that AxoGen will post -0.61 earnings per share for the current fiscal year.

Insider Buying and Selling at AxoGen

In other news, Director Amy Mcbride Wendell acquired 10,000 shares of AxoGen stock in a transaction dated Wednesday, September 6th. The stock was bought at an average price of $6.22 per share, for a total transaction of $62,200.00. Following the completion of the acquisition, the director now directly owns 80,342 shares in the company, valued at approximately $499,727.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have purchased a total of 30,000 shares of company stock valued at $188,900 in the last three months. 7.21% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AxoGen

Several institutional investors and hedge funds have recently modified their holdings of AXGN. ArrowMark Colorado Holdings LLC grew its position in shares of AxoGen by 7.2% during the 2nd quarter. ArrowMark Colorado Holdings LLC now owns 3,921,033 shares of the medical equipment provider’s stock worth $35,799,000 after purchasing an additional 263,422 shares in the last quarter. BlackRock Inc. grew its stake in AxoGen by 3.7% during the second quarter. BlackRock Inc. now owns 3,291,244 shares of the medical equipment provider’s stock worth $30,049,000 after buying an additional 118,764 shares in the last quarter. First Light Asset Management LLC increased its holdings in AxoGen by 6.0% in the 1st quarter. First Light Asset Management LLC now owns 2,423,335 shares of the medical equipment provider’s stock valued at $19,241,000 after buying an additional 137,962 shares during the period. Vanguard Group Inc. raised its position in shares of AxoGen by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 1,922,965 shares of the medical equipment provider’s stock valued at $15,269,000 after buying an additional 38,968 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of AxoGen by 12.1% during the 1st quarter. Bank of America Corp DE now owns 1,729,912 shares of the medical equipment provider’s stock worth $13,736,000 after acquiring an additional 187,205 shares during the period. 83.77% of the stock is currently owned by institutional investors and hedge funds.

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.