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

AxoGen (NASDAQ:AXGN) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Sunday.

A number of other analysts have also recently issued reports on the company. Citigroup reissued an “outperform” rating on shares of AxoGen in a research report on Wednesday, April 29th. Canaccord Genuity Group lifted their price target on AxoGen from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Zacks Research upgraded AxoGen from a “strong sell” rating to a “hold” rating in a research note on Friday, May 29th. HC Wainwright increased their price objective on AxoGen from $39.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, Wells Fargo & Company increased their price objective on AxoGen from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $46.50.

AxoGen Price Performance

Shares of NASDAQ:AXGN opened at $39.49 on Friday. AxoGen has a 12 month low of $12.39 and a 12 month high of $46.95. The firm has a market capitalization of $2.10 billion, a P/E ratio of -61.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.08, a current ratio of 7.10 and a quick ratio of 5.33. The company’s fifty day moving average price is $42.18 and its 200 day moving average price is $37.05.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.05). The company had revenue of $61.46 million during the quarter, compared to analyst estimates of $57.85 million. AxoGen had a negative net margin of 13.21% and a negative return on equity of 9.63%. As a group, sell-side analysts predict that AxoGen will post -0.37 earnings per share for the current fiscal year.

Insider Activity at AxoGen

In other AxoGen news, Director Amy Mcbride Wendell sold 1,647 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $42.60, for a total transaction of $70,162.20. Following the completion of the sale, the director directly owned 93,826 shares of the company’s stock, valued at approximately $3,996,987.60. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathy Johnson Weiler sold 16,344 shares of AxoGen stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $44.09, for a total value of $720,606.96. Following the completion of the transaction, the director owned 16,344 shares in the company, valued at $720,606.96. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,041 shares of company stock worth $1,268,792 in the last quarter. Company insiders own 2.44% of the company’s stock.

Institutional Investors Weigh In On AxoGen

Several hedge funds have recently modified their holdings of the stock. MCF Advisors LLC acquired a new position in AxoGen in the 4th quarter valued at $30,000. Aquatic Capital Management LLC raised its position in AxoGen by 287.8% during the 3rd quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 1,269 shares during the last quarter. Arax Advisory Partners lifted its stake in shares of AxoGen by 362.4% in the 4th quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock worth $34,000 after acquiring an additional 819 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of AxoGen in the 4th quarter worth $36,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of AxoGen in the fourth quarter valued at about $39,000. 80.29% of the stock is owned by institutional investors and hedge funds.

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.