AxoGen, Inc. (NASDAQ:AXGN) Receives $37.67 Average PT from Brokerages

AxoGen, Inc. (NASDAQ:AXGN) has been given a consensus rating of “Moderate Buy” by the ten analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and nine have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $39.3750.

AXGN has been the topic of a number of research analyst reports. Lake Street Capital boosted their target price on AxoGen from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Jefferies Financial Group lifted their price target on AxoGen from $29.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Citigroup restated an “outperform” rating on shares of AxoGen in a research note on Tuesday, February 24th. Citizens Jmp raised their target price on AxoGen from $34.00 to $42.00 and gave the company a “market outperform” rating in a research report on Tuesday, February 24th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $41.00 price target on shares of AxoGen in a report on Monday, February 23rd.

AxoGen Price Performance

Shares of NASDAQ:AXGN opened at $29.22 on Monday. The company has a current ratio of 5.11, a quick ratio of 3.31 and a debt-to-equity ratio of 0.51. The stock has a market cap of $1.52 billion, a PE ratio of -85.94 and a beta of 0.98. The stock’s fifty day simple moving average is $32.92 and its two-hundred day simple moving average is $25.46. AxoGen has a 1-year low of $9.22 and a 1-year high of $36.00.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Tuesday, February 24th. The medical equipment provider reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01). AxoGen had a negative net margin of 6.97% and a negative return on equity of 13.44%. The firm had revenue of $59.90 million during the quarter, compared to analysts’ expectations of $59.90 million. As a group, analysts forecast that AxoGen will post -0.29 EPS for the current fiscal year.

Insider Transactions at AxoGen

In other AxoGen news, Director John Johnson sold 23,693 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $31.24, for a total transaction of $740,169.32. Following the completion of the transaction, the director directly owned 13,141 shares of the company’s stock, valued at approximately $410,524.84. This represents a 64.32% 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. Also, Director Kathy Johnson Weiler sold 46,653 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $29.55, for a total value of $1,378,596.15. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 301,680 shares of company stock valued at $9,174,052. Corporate insiders own 2.78% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. First Light Asset Management LLC increased its holdings in AxoGen by 28.2% in the 3rd quarter. First Light Asset Management LLC now owns 5,805,730 shares of the medical equipment provider’s stock worth $103,574,000 after acquiring an additional 1,276,487 shares during the last quarter. Vanguard Group Inc. boosted its position in AxoGen by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 2,869,955 shares of the medical equipment provider’s stock worth $93,934,000 after purchasing an additional 190,557 shares during the period. Morgan Stanley boosted its position in AxoGen by 6.5% during the fourth quarter. Morgan Stanley now owns 2,586,870 shares of the medical equipment provider’s stock worth $84,668,000 after purchasing an additional 157,029 shares during the period. ArrowMark Colorado Holdings LLC increased its stake in shares of AxoGen by 20.4% in the third quarter. ArrowMark Colorado Holdings LLC now owns 1,958,406 shares of the medical equipment provider’s stock worth $34,938,000 after purchasing an additional 332,498 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its position in shares of AxoGen by 183.9% in the second quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider’s stock valued at $20,953,000 after purchasing an additional 1,250,968 shares during the period. Institutional investors own 80.29% of the company’s stock.

About AxoGen

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.