AxoGen, Inc. (NASDAQ:AXGN) Receives $35.56 Consensus Price Target from Analysts

AxoGen, Inc. (NASDAQ:AXGN) has been given a consensus recommendation of “Moderate Buy” by the ten analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating and nine have given 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 $35.5556.

AXGN has been the subject of a number of recent research reports. HC Wainwright increased their price objective on shares of AxoGen from $26.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, December 5th. JMP Securities set a $34.00 target price on AxoGen in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AxoGen in a research note on Monday. Jefferies Financial Group raised their target price on AxoGen from $29.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Finally, Lake Street Capital lifted their price target on shares of AxoGen from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th.

Insider Buying and Selling

In related news, CEO Michael D. Dale sold 61,463 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $31.21, for a total transaction of $1,918,260.23. Following the completion of the transaction, the chief executive officer directly owned 88,537 shares in the company, valued at approximately $2,763,239.77. This trade represents a 40.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William P. Mr. Burke sold 40,235 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The stock was 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 of the company’s stock, valued at $2,055. This represents a 99.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 434,143 shares of company stock valued at $11,995,476. 2.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AxoGen

Hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC boosted its stake in shares of AxoGen by 53.3% during the 2nd quarter. Acadian Asset Management LLC now owns 347,726 shares of the medical equipment provider’s stock worth $3,772,000 after acquiring an additional 120,914 shares during the period. Legal & General Group Plc grew its stake in shares of AxoGen by 81.3% in the second quarter. Legal & General Group Plc now owns 185,481 shares of the medical equipment provider’s stock valued at $2,012,000 after acquiring an additional 83,175 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of AxoGen by 2.2% during the 2nd 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 in the last quarter. Jacobs Levy Equity Management Inc. grew its position in AxoGen by 148.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 203,901 shares of the medical equipment provider’s stock worth $3,772,000 after buying an additional 121,901 shares in the last quarter. Finally, First Eagle Investment Management LLC acquired a new stake in shares of AxoGen during the 2nd quarter worth $1,931,000. Institutional investors own 80.29% of the company’s stock.

AxoGen Stock Performance

Shares of NASDAQ AXGN opened at $31.98 on Wednesday. The company has a market cap of $1.47 billion, a P/E ratio of -639.60 and a beta of 1.06. AxoGen has a 12 month low of $9.22 and a 12 month high of $34.24. The business’s 50 day moving average is $24.71 and its two-hundred day moving average is $17.59. The company has a quick ratio of 2.64, a current ratio of 4.09 and a debt-to-equity ratio of 0.54.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.03. AxoGen had a negative net margin of 0.98% and a negative return on equity of 1.90%. The company had revenue of $60.08 million for the quarter, compared to analyst estimates of $56.90 million. On average, equities analysts expect that AxoGen will post -0.29 EPS for the current year.

AxoGen Company Profile

AxoGen, Inc is a Florida-based medical technology company that develops and commercializes surgical solutions for peripheral nerve damage. Founded in 2002 and headquartered in Alachua, Florida, the company focuses on restoring nerve function and improving patient outcomes through innovative biologic and engineered products. AxoGen’s offerings address a range of traumatic and iatrogenic injuries, offering alternatives to traditional nerve autografts.

The company’s core product portfolio includes the Avance® Nerve Graft, a decellularized human nerve allograft designed to bridge nerve gaps without the need for a secondary harvest site, and the Axoguard® Nerve Connector and Protector devices, which facilitate nerve coaptation and protect repaired sites from surrounding scar tissue.