AxoGen (NASDAQ:AXGN) Coverage Initiated by Analysts at Canaccord Genuity

Canaccord Genuity assumed coverage on shares of AxoGen (NASDAQ:AXGN) in a research note issued to investors on Friday, Briefing.com Automated Import reports. The firm issued a buy rating and a $32.00 target price on the medical equipment provider’s stock.

Several other equities analysts have also recently weighed in on the company. ValuEngine cut Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st. BidaskClub cut Virtu Financial from a sell rating to a strong sell rating in a report on Wednesday, June 12th. Cantor Fitzgerald restated a buy rating and set a $27.00 price target on shares of Spero Therapeutics in a report on Thursday, May 9th. Finally, BTIG Research cut their price target on Verastem to $8.00 and set a buy rating for the company in a report on Friday, May 10th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $36.50.

NASDAQ:AXGN opened at $19.70 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.83 and a quick ratio of 8.03. AxoGen has a 12-month low of $14.13 and a 12-month high of $56.85. The stock’s 50-day simple moving average is $20.26.

AxoGen (NASDAQ:AXGN) last released its earnings results on Wednesday, May 8th. The medical equipment provider reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The business had revenue of $23.30 million for the quarter, compared to analysts’ expectations of $22.33 million. AxoGen had a negative return on equity of 15.58% and a negative net margin of 29.19%. The business’s revenue for the quarter was up 34.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.11) EPS. As a group, research analysts anticipate that AxoGen will post -0.74 EPS for the current year.

In other news, VP David K. Hansen sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $22.63, for a total value of $452,600.00. Following the completion of the sale, the vice president now directly owns 25,588 shares of the company’s stock, valued at approximately $579,056.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy Mcbride Wendell acquired 5,000 shares of the stock in a transaction dated Thursday, June 13th. The stock was bought at an average cost of $20.25 per share, with a total value of $101,250.00. Following the completion of the purchase, the director now directly owns 23,333 shares in the company, valued at $472,493.25. The disclosure for this purchase can be found here. 6.77% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of AXGN. Baillie Gifford & Co. lifted its stake in shares of AxoGen by 4,887.5% during the 4th quarter. Baillie Gifford & Co. now owns 636,800 shares of the medical equipment provider’s stock worth $13,009,000 after acquiring an additional 624,032 shares during the last quarter. Frontier Capital Management Co. LLC bought a new stake in shares of AxoGen during the 1st quarter worth approximately $7,402,000. Two Sigma Investments LP lifted its stake in shares of AxoGen by 1,500.4% during the 4th quarter. Two Sigma Investments LP now owns 252,867 shares of the medical equipment provider’s stock worth $5,166,000 after acquiring an additional 237,067 shares during the last quarter. Summit Partners Public Asset Management LLC lifted its stake in shares of AxoGen by 431.3% during the 4th quarter. Summit Partners Public Asset Management LLC now owns 272,528 shares of the medical equipment provider’s stock worth $5,568,000 after acquiring an additional 221,229 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new stake in shares of AxoGen during the 4th quarter worth approximately $3,194,000. 87.40% of the stock is owned by institutional investors and hedge funds.

AxoGen Company Profile

AxoGen, Inc develops and markets surgical solutions for peripheral nerve injuries. The company's surgical solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed 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 nerves; and 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.

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