AxoGen (NASDAQ:AXGN) Trading Down 4.7% – What’s Next?

AxoGen, Inc. (NASDAQ:AXGN) dropped 4.7% during mid-day trading on Monday . The company traded as low as $31.33 and last traded at $31.74. Approximately 322,441 shares changed hands during trading, a decline of 62% from the average daily volume of 847,887 shares. The stock had previously closed at $33.32.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AXGN. Canaccord Genuity Group boosted their price objective on AxoGen from $27.00 to $37.00 and gave the stock a “buy” rating in a report on Friday. Jefferies Financial Group boosted their target price on shares of AxoGen from $29.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday. Citizens Jmp increased their price target on shares of AxoGen from $26.00 to $34.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 30th. Mizuho initiated coverage on shares of AxoGen in a research report on Monday, December 1st. They set an “outperform” rating and a $40.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AxoGen in a report on Monday, December 1st. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, AxoGen currently has a consensus rating of “Moderate Buy” and an average target price of $35.56.

AxoGen Stock Down 5.5%

The company has a current ratio of 4.09, a quick ratio of 2.64 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $1.45 billion, a P/E ratio of -630.50 and a beta of 1.06. The stock has a 50 day moving average price of $22.04 and a 200 day moving average price of $16.30.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings data on Wednesday, October 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The business had revenue of $60.08 million for the quarter, compared to analyst estimates of $56.90 million. AxoGen had a negative return on equity of 1.90% and a negative net margin of 0.98%. On average, research analysts anticipate that AxoGen, Inc. will post -0.29 earnings per share for the current fiscal year.

Insider Transactions at AxoGen

In related news, Director William P. Mr. Burke sold 40,235 shares of AxoGen stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $20.55, for a total transaction of $826,829.25. Following the sale, the director directly owned 100 shares in the company, valued at $2,055. This trade represents a 99.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 133,600 shares of company stock valued at $2,839,945. 2.78% of the stock is owned by company insiders.

Hedge Funds Weigh In On AxoGen

Large investors have recently modified their holdings of the business. First Light Asset Management LLC raised its position in AxoGen by 28.2% during the 3rd quarter. First Light Asset Management LLC now owns 5,805,730 shares of the medical equipment provider’s stock worth $103,574,000 after purchasing an additional 1,276,487 shares during the last quarter. Balyasny Asset Management L.P. increased its position in shares of AxoGen by 183.9% during the second quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider’s stock worth $20,953,000 after buying an additional 1,250,968 shares during the period. Bessemer Group Inc. bought a new stake in AxoGen during the third quarter valued at $14,468,000. Wasatch Advisors LP boosted its position in shares of AxoGen by 85.1% during the 2nd quarter. Wasatch Advisors LP now owns 1,433,782 shares of the medical equipment provider’s stock valued at $15,557,000 after purchasing an additional 659,149 shares in the last quarter. Finally, Brown Capital Management LLC bought a new stake in AxoGen in the third quarter worth approximately $11,500,000. Institutional investors own 80.29% of the company’s stock.

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.