AxoGen, Inc. (NASDAQ:AXGN) Receives Average Recommendation of “Buy” from Brokerages

AxoGen, Inc. (NASDAQ:AXGN) has been given an average recommendation of “Buy” by the five analysts that are presently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $13.80.

Several equities research analysts have recently weighed in on AXGN shares. JMP Securities increased their target price on shares of AxoGen from $17.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, August 9th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $15.00 price objective on shares of AxoGen in a research report on Thursday, June 20th. Raymond James started coverage on AxoGen in a research note on Monday, July 1st. They issued an “outperform” rating and a $13.00 target price on the stock. Finally, StockNews.com upgraded AxoGen from a “hold” rating to a “buy” rating in a research note on Wednesday, September 25th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AXGN. Squarepoint Ops LLC lifted its holdings in AxoGen by 186.1% in the second quarter. Squarepoint Ops LLC now owns 60,913 shares of the medical equipment provider’s stock valued at $441,000 after acquiring an additional 39,624 shares during the period. First Light Asset Management LLC increased its holdings in shares of AxoGen by 336.6% in the 2nd quarter. First Light Asset Management LLC now owns 3,344,033 shares of the medical equipment provider’s stock valued at $24,211,000 after purchasing an additional 2,578,147 shares in the last quarter. Divisadero Street Capital Management LP lifted its stake in shares of AxoGen by 587.2% in the second quarter. Divisadero Street Capital Management LP now owns 686,994 shares of the medical equipment provider’s stock valued at $4,974,000 after purchasing an additional 587,024 shares during the period. Rice Hall James & Associates LLC boosted its holdings in AxoGen by 26.8% during the second quarter. Rice Hall James & Associates LLC now owns 194,269 shares of the medical equipment provider’s stock worth $1,407,000 after buying an additional 41,095 shares in the last quarter. Finally, Koss Olinger Consulting LLC acquired a new position in AxoGen during the second quarter worth about $75,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

AxoGen Trading Down 1.2 %

AXGN opened at $14.14 on Friday. The company has a quick ratio of 2.32, a current ratio of 3.51 and a debt-to-equity ratio of 0.70. AxoGen has a 52 week low of $3.45 and a 52 week high of $15.08. The business’s 50 day moving average is $12.02 and its two-hundred day moving average is $8.90. The firm has a market cap of $617.99 million, a price-to-earnings ratio of -28.30 and a beta of 1.12.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. The business had revenue of $47.91 million for the quarter, compared to analysts’ expectations of $43.27 million. AxoGen had a negative net margin of 9.53% and a negative return on equity of 17.30%. On average, research analysts predict that AxoGen will post -0.33 EPS for the current year.

AxoGen Company Profile

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company’s products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed peripheral nerves; AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.