AxoGen (NASDAQ:AXGN) Upgraded at StockNews.com

StockNews.com upgraded shares of AxoGen (NASDAQ:AXGN) from a hold rating to a buy rating in a research report released on Friday.

A number of other equities analysts have also issued reports on AXGN. Raymond James assumed coverage on shares of AxoGen in a research report on Monday, July 1st. They issued an outperform rating and a $13.00 target price for the company. Canaccord Genuity Group reissued a buy rating and set a $15.00 target price on shares of AxoGen in a report on Thursday, June 20th. Finally, JMP Securities increased their price target on AxoGen from $17.00 to $20.00 and gave the company a market outperform rating in a research note on Friday, August 9th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of Buy and a consensus price target of $13.80.

AxoGen Price Performance

Shares of NASDAQ AXGN opened at $13.67 on Friday. The company has a current ratio of 3.51, a quick ratio of 2.32 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $597.45 million, a price-to-earnings ratio of -27.34 and a beta of 1.13. AxoGen has a twelve month low of $3.45 and a twelve month high of $15.08. The business has a 50 day simple moving average of $12.29 and a 200-day simple moving average of $9.03.

AxoGen (NASDAQ:AXGN) last issued its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.10. AxoGen had a negative return on equity of 17.30% and a negative net margin of 9.53%. The firm had revenue of $47.91 million for the quarter, compared to analyst estimates of $43.27 million. As a group, equities research analysts expect that AxoGen will post -0.33 earnings per share for the current year.

Hedge Funds Weigh In On AxoGen

A number of institutional investors have recently made changes to their positions in AXGN. SG Americas Securities LLC acquired a new stake in AxoGen during the third quarter worth about $227,000. Squarepoint Ops LLC grew its holdings in shares of AxoGen by 186.1% during the 2nd quarter. Squarepoint Ops LLC now owns 60,913 shares of the medical equipment provider’s stock worth $441,000 after purchasing an additional 39,624 shares in the last quarter. First Light Asset Management LLC increased its position in shares of AxoGen by 336.6% during the second 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 during the period. Divisadero Street Capital Management LP raised 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 in the last quarter. Finally, Rice Hall James & Associates LLC lifted its position in AxoGen by 26.8% in 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 purchasing an additional 41,095 shares during the period. 80.29% of the stock is currently owned by institutional investors.

About AxoGen

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.