Analysts Set AxoGen, Inc. (NASDAQ:AXGN) Price Target at $46.50

AxoGen, Inc. (NASDAQ:AXGN) has been given a consensus rating of “Moderate Buy” by the eleven research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $46.50.

A number of research analysts recently commented on AXGN shares. Canaccord Genuity Group boosted their price target on AxoGen from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Weiss Ratings restated a “sell (d-)” rating on shares of AxoGen in a research report on Friday, May 29th. Wall Street Zen raised shares of AxoGen from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Raymond James Financial restated an “outperform” rating and set a $48.00 price objective on shares of AxoGen in a research report on Wednesday, April 29th. Finally, Lake Street Capital upped their price target on shares of AxoGen from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd.

AxoGen Stock Performance

Shares of AxoGen stock traded down $3.04 on Friday, hitting $40.58. The stock had a trading volume of 2,139,698 shares, compared to its average volume of 1,520,970. The business’s 50 day moving average is $42.67 and its two-hundred day moving average is $36.57. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of -63.41 and a beta of 1.09. AxoGen has a twelve month low of $11.25 and a twelve month high of $46.95. The company has a quick ratio of 5.33, a current ratio of 7.10 and a debt-to-equity ratio of 0.08.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.05). AxoGen had a negative return on equity of 9.63% and a negative net margin of 13.21%.The firm had revenue of $61.46 million for the quarter, compared to the consensus estimate of $57.85 million. Analysts forecast that AxoGen will post -0.37 EPS for the current year.

Insider Buying and Selling at AxoGen

In other AxoGen news, Director Amy Mcbride Wendell sold 1,647 shares of AxoGen stock in a transaction on Friday, May 8th. The shares were sold at an average price of $42.60, for a total value 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. The trade was a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kathy Johnson Weiler sold 16,344 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was 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 approximately $720,606.96. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 29,041 shares of company stock valued at $1,268,792. Corporate insiders own 2.44% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC increased its position in shares of AxoGen by 1.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 21,473 shares of the medical equipment provider’s stock valued at $703,000 after purchasing an additional 371 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of AxoGen by 6.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,943 shares of the medical equipment provider’s stock worth $296,000 after buying an additional 525 shares during the last quarter. Arax Advisory Partners boosted its holdings 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 buying an additional 819 shares during the last quarter. Brooklyn Investment Group grew its position in AxoGen by 4.2% during the fourth quarter. Brooklyn Investment Group now owns 20,568 shares of the medical equipment provider’s stock valued at $688,000 after buying an additional 823 shares during the period. Finally, MCF Advisors LLC bought a new position in AxoGen during the fourth quarter valued at about $30,000. Institutional investors own 80.29% of the company’s stock.

About AxoGen

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.