AxoGen (NASDAQ:AXGN) Stock Price Expected to Rise, Lake Street Capital Analyst Says

AxoGen (NASDAQ:AXGN) had its target price lifted by investment analysts at Lake Street Capital from $40.00 to $50.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. Lake Street Capital’s price objective would indicate a potential upside of 27.39% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company began coverage on shares of AxoGen in a research report on Thursday, February 19th. They issued an “overweight” rating and a $40.00 price objective for the company. Raymond James Financial reiterated an “outperform” rating and issued a $41.00 price objective on shares of AxoGen in a research report on Monday, February 23rd. Wall Street Zen downgraded shares of AxoGen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Weiss Ratings reiterated a “sell (e+)” rating on shares of AxoGen in a research report on Monday, December 29th. Finally, Citigroup reissued an “outperform” rating on shares of AxoGen in a research note on Tuesday, February 24th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.63.

AxoGen Trading Up 4.9%

Shares of AxoGen stock opened at $39.25 on Thursday. The firm has a 50-day simple moving average of $33.09 and a two-hundred day simple moving average of $29.68. The company has a market cap of $2.04 billion, a P/E ratio of -115.44 and a beta of 0.98. AxoGen has a fifty-two week low of $9.22 and a fifty-two week high of $39.99. 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 issued its quarterly earnings data on Tuesday, February 24th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The firm had revenue of $59.90 million during the quarter, compared to analyst estimates 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, equities analysts predict that AxoGen will post -0.24 earnings per share for the current fiscal year.

Insider Activity at AxoGen

In other news, insider Erick Wayne Devinney sold 5,221 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $32.84, for a total transaction of $171,457.64. Following the completion of the sale, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.78% of the stock is owned by corporate insiders.

Institutional Trading of AxoGen

A number of institutional investors and hedge funds have recently modified their holdings of AXGN. Royal Bank of Canada increased its stake in shares of AxoGen by 14.2% during the first quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock worth $704,000 after purchasing an additional 4,723 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of AxoGen by 45.3% during the first quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider’s stock worth $442,000 after purchasing an additional 7,453 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of AxoGen by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock worth $466,000 after purchasing an additional 1,057 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of AxoGen by 104,810.0% during the first quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider’s stock worth $194,000 after purchasing an additional 10,481 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in AxoGen by 37.3% during the second quarter. JPMorgan Chase & Co. now owns 379,070 shares of the medical equipment provider’s stock worth $4,113,000 after acquiring an additional 103,072 shares during the last quarter. Hedge funds and other institutional investors own 80.29% of the company’s stock.

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.