Wall Street Zen Downgrades AxoGen (NASDAQ:AXGN) to Buy

AxoGen (NASDAQ:AXGN) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other analysts also recently weighed in on AXGN. Jefferies Financial Group boosted their price target on AxoGen from $29.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Mizuho initiated coverage on shares of AxoGen in a research report on Monday, December 1st. They set an “outperform” rating and a $40.00 price target for the company. Citigroup reiterated an “outperform” rating on shares of AxoGen in a report on Tuesday. Raymond James Financial reaffirmed an “outperform” rating and set a $41.00 target price on shares of AxoGen in a report on Monday. Finally, HC Wainwright increased their price target on AxoGen from $26.00 to $39.00 and gave the company a “buy” rating in a report on Friday, December 5th. Ten research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, AxoGen currently has an average rating of “Moderate Buy” and an average price target of $37.67.

AxoGen Stock Down 0.5%

Shares of AXGN opened at $31.73 on Friday. The company has a quick ratio of 2.64, a current ratio of 5.11 and a debt-to-equity ratio of 0.51. AxoGen has a 52-week low of $9.22 and a 52-week high of $36.00. The company has a market cap of $1.65 billion, a PE ratio of -93.32 and a beta of 1.00. The business has a fifty day moving average of $33.08 and a 200 day moving average of $25.07.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings results on Tuesday, February 24th. The medical equipment provider reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.36). AxoGen had a negative return on equity of 13.44% and a negative net margin of 6.97%.The company had revenue of $59.90 million during the quarter, compared to the consensus estimate of $59.90 million. On average, sell-side analysts expect that AxoGen will post -0.29 EPS for the current year.

Insider Buying and Selling at AxoGen

In related news, Director Kathy Johnson Weiler sold 46,653 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $29.55, for a total transaction of $1,378,596.15. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael D. Dale sold 61,463 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were 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 owned 88,537 shares in the company, valued at approximately $2,763,239.77. This represents a 40.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 301,680 shares of company stock valued at $9,174,052 in the last ninety days. Company insiders own 2.78% of the company’s stock.

Hedge Funds Weigh In On AxoGen

A number of hedge funds have recently modified their holdings of the stock. First Light Asset Management LLC boosted its position 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 during the last quarter. Vanguard Group Inc. raised its stake in shares of AxoGen by 7.1% during the 4th 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 in the last quarter. Morgan Stanley lifted its holdings in shares of AxoGen by 6.5% during the 4th quarter. Morgan Stanley now owns 2,586,870 shares of the medical equipment provider’s stock valued at $84,668,000 after buying an additional 157,029 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its stake in shares of AxoGen by 20.4% in 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. Finally, Balyasny Asset Management L.P. increased its holdings in 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 worth $20,953,000 after buying an additional 1,250,968 shares during the last quarter. 80.29% of the stock is owned by institutional investors and hedge funds.

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.