StockNews.com Upgrades AxoGen (NASDAQ:AXGN) to “Buy”

AxoGen (NASDAQ:AXGNGet Free Report) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Several other brokerages also recently commented on AXGN. Raymond James assumed coverage on AxoGen in a research note on Monday, July 1st. They set an “outperform” rating and a $13.00 target price for the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $15.00 price objective on shares of AxoGen in a research report on Thursday, June 20th. Finally, JMP Securities increased their price objective on shares of AxoGen from $17.00 to $20.00 and gave the company a “market outperform” rating in a research report on Friday, August 9th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, AxoGen currently has a consensus rating of “Buy” and a consensus target price of $13.80.

View Our Latest Analysis on AxoGen

AxoGen Stock Performance

Shares of NASDAQ AXGN opened at $14.25 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.32 and a current ratio of 3.51. The stock has a 50 day moving average price of $12.95 and a 200 day moving average price of $9.29. The stock has a market capitalization of $622.80 million, a PE ratio of -28.50 and a beta of 1.13. AxoGen has a 52 week low of $3.45 and a 52 week high of $15.08.

AxoGen (NASDAQ:AXGNGet Free Report) last issued its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. AxoGen had a negative net margin of 9.53% and a negative return on equity of 17.30%. The company had revenue of $47.91 million for the quarter, compared to analysts’ expectations of $43.27 million. Analysts predict that AxoGen will post -0.33 earnings per share for the current fiscal year.

Institutional Trading of AxoGen

Institutional investors and hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. lifted its holdings in shares of AxoGen by 2,014.6% in the second quarter. Assenagon Asset Management S.A. now owns 1,310,811 shares of the medical equipment provider’s stock worth $9,490,000 after acquiring an additional 1,248,823 shares during the last quarter. Divisadero Street Capital Management LP boosted its position in AxoGen by 587.2% in the second quarter. Divisadero Street Capital Management LP now owns 686,994 shares of the medical equipment provider’s stock valued at $4,974,000 after buying an additional 587,024 shares in the last quarter. Rice Hall James & Associates LLC grew its stake in shares of AxoGen by 26.8% during the second quarter. Rice Hall James & Associates LLC now owns 194,269 shares of the medical equipment provider’s stock worth $1,407,000 after buying an additional 41,095 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of AxoGen by 30.1% during the first quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock worth $93,000 after buying an additional 2,671 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of AxoGen by 8.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,650 shares of the medical equipment provider’s stock valued at $240,000 after acquiring an additional 2,204 shares during the last quarter. 80.29% of the stock is currently owned by institutional investors.

AxoGen Company Profile

(Get Free Report)

AxoGen, Inc, together with its subsidiaries, develops and commercializes 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; 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; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.

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