AxoGen (NASDAQ:AXGN) Earns Outperform Rating from Analysts at Mizuho

Mizuho assumed coverage on shares of AxoGen (NASDAQ:AXGN) in a research note released on Monday morning, Marketbeat.com reports. The firm issued an outperform rating and a $40.00 target price on the medical equipment provider’s stock.

A number of other research firms also recently commented on AXGN. Jefferies Financial Group reaffirmed a “buy” rating on shares of AxoGen in a report on Wednesday, October 29th. Raymond James Financial raised their price target on shares of AxoGen from $20.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Citigroup reaffirmed a “market outperform” rating on shares of AxoGen in a report on Thursday, October 30th. Citizens Jmp increased their target price on AxoGen from $26.00 to $34.00 and gave the stock a “market outperform” rating in a report on Thursday, October 30th. Finally, HC Wainwright boosted their price target on AxoGen from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.25.

AxoGen Price Performance

Shares of AXGN stock opened at $28.33 on Monday. AxoGen has a 12 month low of $9.22 and a 12 month high of $29.32. The company has a market capitalization of $1.31 billion, a P/E ratio of -566.60 and a beta of 1.06. The stock has a 50 day moving average of $21.40 and a two-hundred day moving average of $15.97. The company has a current ratio of 4.09, a quick ratio of 2.64 and a debt-to-equity ratio of 0.54.

AxoGen (NASDAQ:AXGN) last issued its earnings results on Wednesday, October 29th. The medical equipment provider reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. AxoGen had a negative return on equity of 1.90% and a negative net margin of 0.98%.The business had revenue of $60.08 million during the quarter, compared to analyst estimates of $56.90 million. As a group, equities analysts expect that AxoGen will post -0.29 EPS for the current year.

Insider Buying and Selling at AxoGen

In other news, Director William P. Mr. Burke sold 40,235 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $20.55, for a total transaction of $826,829.25. Following the transaction, the director directly owned 100 shares in the company, valued at approximately $2,055. This represents a 99.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 133,600 shares of company stock valued at $2,839,945 over the last ninety days. Insiders own 2.78% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AXGN. Acadian Asset Management LLC lifted its stake in shares of AxoGen by 53.3% during the second quarter. Acadian Asset Management LLC now owns 347,726 shares of the medical equipment provider’s stock valued at $3,772,000 after acquiring an additional 120,914 shares during the period. Assenagon Asset Management S.A. increased its position in AxoGen by 2.2% in the second quarter. Assenagon Asset Management S.A. now owns 1,023,122 shares of the medical equipment provider’s stock worth $11,101,000 after purchasing an additional 21,905 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in AxoGen by 148.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 203,901 shares of the medical equipment provider’s stock worth $3,772,000 after purchasing an additional 121,901 shares during the last quarter. HighMark Wealth Management LLC lifted its position in AxoGen by 174.5% during the 2nd quarter. HighMark Wealth Management LLC now owns 98,085 shares of the medical equipment provider’s stock valued at $1,064,000 after purchasing an additional 62,350 shares during the period. Finally, Nuveen LLC bought a new position in shares of AxoGen in the 1st quarter valued at about $5,668,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

About AxoGen

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.