AxoGen, Inc. (NASDAQ:AXGN) Receives $39.38 Consensus Target Price from Analysts

Shares of AxoGen, Inc. (NASDAQ:AXGN) have received a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, Marketbeat 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 target price among brokers that have covered the stock in the last year is $39.3750.

A number of research firms have commented on AXGN. Citizens Jmp lifted their target price on AxoGen from $34.00 to $42.00 and gave the stock a “market outperform” rating in a report on Tuesday, February 24th. Mizuho assumed coverage on AxoGen in a report on Monday, December 1st. They set an “outperform” rating and a $40.00 price target on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AxoGen in a research report on Monday, December 29th. HC Wainwright lifted their price objective on AxoGen from $26.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $41.00 target price on shares of AxoGen in a research report on Monday, February 23rd.

AxoGen Stock Performance

Shares of NASDAQ AXGN opened at $31.28 on Friday. The firm’s 50 day moving average price is $32.68 and its 200-day moving average price is $27.39. AxoGen has a 52-week low of $9.22 and a 52-week high of $36.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.31 and a current ratio of 5.11. The company has a market cap of $1.62 billion, a PE ratio of -92.00 and a beta of 0.98.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Tuesday, February 24th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). The firm had revenue of $59.90 million for the quarter, compared to the consensus estimate of $59.90 million. AxoGen had a negative net margin of 6.97% and a negative return on equity of 13.44%. On average, equities research analysts expect that AxoGen will post -0.29 EPS 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 that occurred on 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AxoGen

Several institutional investors and hedge funds have recently added to or reduced their stakes in AXGN. MCF Advisors LLC bought a new stake in AxoGen in the 4th quarter worth approximately $30,000. Arax Advisory Partners lifted its holdings in shares of AxoGen by 362.4% during the 4th quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 819 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of AxoGen in the 4th quarter worth $36,000. Kestra Advisory Services LLC purchased a new position in shares of AxoGen in the 4th quarter worth $39,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of AxoGen in the third quarter worth $27,000. Hedge funds and other 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.