AxoGen (NASDAQ:AXGN) Stock Rating Upgraded by Wall Street Zen

AxoGen (NASDAQ:AXGN) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday.

AXGN has been the subject of a number of other research reports. Citigroup restated a “market outperform” rating on shares of AxoGen in a research note on Thursday, October 30th. Citizens Jmp increased their price objective on shares of AxoGen from $26.00 to $34.00 and gave the company a “market outperform” rating in a research report on Thursday, October 30th. Lake Street Capital increased their price objective on shares of AxoGen from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Raymond James Financial restated an “outperform” rating and set a $36.00 target price on shares of AxoGen in a research report on Thursday, December 4th. Finally, Mizuho initiated coverage on shares of AxoGen in a report on Monday, December 1st. They set an “outperform” rating and a $40.00 target price for the company. Nine analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, AxoGen presently has an average rating of “Moderate Buy” and a consensus target price of $35.56.

AxoGen Stock Up 2.6%

Shares of AxoGen stock opened at $32.83 on Friday. The company has a 50-day simple moving average of $30.58 and a two-hundred day simple moving average of $21.44. The stock has a market capitalization of $1.51 billion, a PE ratio of -656.60 and a beta of 1.00. AxoGen has a 52-week low of $9.22 and a 52-week high of $34.71. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.64 and a current ratio of 4.09.

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

Insider Buying and Selling

In other AxoGen news, Director Paul Thomas sold 21,399 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $29.61, for a total value of $633,624.39. Following the sale, the director owned 13,528 shares in the company, valued at $400,564.08. The trade was a 61.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marc A. Began sold 9,278 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $31.21, for a total value of $289,566.38. Following the completion of the sale, the executive vice president owned 31,507 shares in the company, valued at $983,333.47. This represents a 22.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 399,759 shares of company stock worth $11,371,779 in the last 90 days. 2.78% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. First Light Asset Management LLC raised its stake in AxoGen by 28.2% during the third quarter. First Light Asset Management LLC now owns 5,805,730 shares of the medical equipment provider’s stock valued at $103,574,000 after purchasing an additional 1,276,487 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its position in shares of AxoGen by 20.4% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,958,406 shares of the medical equipment provider’s stock valued at $34,938,000 after buying an additional 332,498 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of AxoGen by 183.9% in the 2nd 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 acquiring an additional 1,250,968 shares during the last quarter. Wasatch Advisors LP grew its position in AxoGen by 14.3% in the third quarter. Wasatch Advisors LP now owns 1,639,351 shares of the medical equipment provider’s stock worth $29,246,000 after acquiring an additional 205,569 shares in the last quarter. Finally, Soleus Capital Management L.P. increased its stake in AxoGen by 0.9% during the second quarter. Soleus Capital Management L.P. now owns 1,459,395 shares of the medical equipment provider’s stock worth $15,834,000 after acquiring an additional 13,278 shares during the last quarter. 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.