Analysts Set AxoGen, Inc. (NASDAQ:AXGN) Price Target at $39.75

Shares of AxoGen, Inc. (NASDAQ:AXGN) have been given an average rating of “Moderate Buy” by the ten research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating and nine have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $41.00.

Several research analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AxoGen in a research note on Monday, December 29th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $40.00 target price on shares of AxoGen in a research note on Monday, March 30th. Lake Street Capital lifted their target price on shares of AxoGen from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday. Raymond James Financial reaffirmed an “outperform” rating and issued a $41.00 target price on shares of AxoGen in a research note on Monday, February 23rd. Finally, Citigroup reaffirmed an “outperform” rating on shares of AxoGen in a research note on Tuesday, February 24th.

AxoGen Trading Up 1.1%

AXGN stock opened at $37.41 on Tuesday. The company has a market capitalization of $1.94 billion, a PE ratio of -110.03 and a beta of 0.98. AxoGen has a one year low of $9.22 and a one year high of $39.99. The company’s 50 day moving average price is $32.97 and its two-hundred day moving average price is $29.53. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.31 and a current ratio of 5.11.

AxoGen (NASDAQ:AXGN) last posted its quarterly 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). The business had revenue of $59.90 million for the quarter, compared to analysts’ expectations of $59.90 million. AxoGen had a negative return on equity of 13.44% and a negative net margin of 6.97%. As a group, analysts predict that AxoGen will post -0.24 earnings per share for the current fiscal year.

Insider Activity at AxoGen

In related news, insider Erick Wayne Devinney sold 5,221 shares of AxoGen stock in a transaction on Monday, March 16th. The shares were sold at an average price of $32.84, for a total value of $171,457.64. Following the transaction, the insider directly owned 262,781 shares of the company’s stock, valued at $8,629,728.04. The trade was a 1.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Wasatch Advisors LP increased its stake in shares of AxoGen by 101.1% in the first quarter. Wasatch Advisors LP now owns 1,857,350 shares of the medical equipment provider’s stock worth $61,534,000 after buying an additional 933,778 shares during the period. Diversified Trust Co increased its position in AxoGen by 15.1% during the 1st quarter. Diversified Trust Co now owns 12,998 shares of the medical equipment provider’s stock valued at $431,000 after purchasing an additional 1,709 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in AxoGen during the 4th quarter valued at $52,000. Invesco Ltd. increased its position in AxoGen by 86.1% during the 4th quarter. Invesco Ltd. now owns 189,345 shares of the medical equipment provider’s stock valued at $6,197,000 after purchasing an additional 87,622 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its position in AxoGen by 41.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 15,857 shares of the medical equipment provider’s stock valued at $503,000 after purchasing an additional 4,664 shares during the period. 80.29% of the stock is owned by hedge funds and other institutional investors.

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.