AxoGen (NASDAQ:AXGN) Posts Quarterly Earnings Results, Hits Estimates

AxoGen (NASDAQ:AXGN) announced its quarterly earnings data on Wednesday. The medical equipment provider reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12, FiscalAI reports. The company had revenue of $69.73 million during the quarter, compared to analyst estimates of $67.10 million. AxoGen had a negative return on equity of 9.63% and a negative net margin of 13.21%.

Here are the key takeaways from AxoGen’s conference call:

• Revenue growth accelerated: Second-quarter revenue rose 23.1% year over year to $69.7 million, led by breast revenue growth of more than 50% and broad-based gains across all three target markets.
• Management raised 2026 revenue guidance to at least $279 million, representing growth of at least 24%, while maintaining expectations for positive full-year free cash flow.
• The breast business continues to expand rapidly, reaching approximately 215 active programs and 560 active surgeons; management said patient and surgeon awareness, reimbursement, and sales-force investments are supporting substantial long-term opportunity.
• Gross margin fell to 72.7% from 74.2% a year ago because breast growth increased demand for higher-cost, longer Avance grafts. Full-year 2026 gross-margin guidance was reduced to at least 73%, with pricing and manufacturing initiatives not expected to materially help this year.
• Commercial coverage for Avance reached approximately 86% of U.S. covered lives, while Aetna’s review remains ongoing; a favorable decision could lift coverage to roughly 95% of commercial lives, but management does not include material incremental benefit from pending payer decisions in its guidance.

AxoGen Price Performance

AXGN traded up $0.35 on Thursday, reaching $41.72. The company had a trading volume of 627,397 shares, compared to its average volume of 1,118,976. The business has a 50 day simple moving average of $42.10 and a 200 day simple moving average of $37.28. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -65.19 and a beta of 1.09. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.33 and a current ratio of 7.10. AxoGen has a 52-week low of $12.39 and a 52-week high of $46.95.

More AxoGen News

Here are the key news stories impacting AxoGen this week:

• Positive Sentiment: Analysts raise targets and ratings: Canaccord Genuity raised its price target from $50 to $55 and assigned a “buy” rating. Citizens JMP also lifted its target to $55 and upgraded its view to “market outperform,” implying roughly 30% upside based on the cited share prices. Benzinga analyst ratings report
• Positive Sentiment: Revenue exceeded expectations: AxoGen reported second-quarter revenue of $69.73 million, above the $67.10 million analyst estimate, signaling continued demand for its peripheral nerve repair products. AxoGen second-quarter 2026 financial results
• Positive Sentiment: Quarterly earnings were solid: Adjusted earnings were $0.12 per share, matching one consensus estimate and exceeding the $0.09 Zacks consensus forecast; results also matched the $0.12 earned a year earlier. Zacks AxoGen earnings report
• Neutral Sentiment: Growth is accompanied by margin pressure: Earnings coverage highlighted strong revenue growth but ongoing profitability challenges. AxoGen reported a negative net margin of 13.21% and negative return on equity of 9.63%, which could limit valuation expansion until margins improve. Yahoo Finance AxoGen earnings call highlights
• Neutral Sentiment: Updated full-year guidance lacks detail in the available report: Investors will need further information from management regarding the outlook and the pace at which the company expects to reach sustained profitability. AxoGen second-quarter earnings call transcript

Analyst Ratings Changes

A number of brokerages recently commented on AXGN. Citizens Jmp upped their price target on shares of AxoGen from $50.00 to $55.00 and gave the company a “market outperform” rating in a research note on Thursday. Zacks Research raised shares of AxoGen from a “strong sell” rating to a “hold” rating in a report on Friday, May 29th. Raymond James Financial reaffirmed an “outperform” rating and issued a $48.00 price target on shares of AxoGen in a report on Wednesday, April 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AxoGen in a research note on Friday, May 29th. Finally, Citigroup restated a “market outperform” rating on shares of AxoGen in a research note on Thursday. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.00.

Insiders Place Their Bets

In other news, Director John Johnson sold 11,050 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $43.26, for a total value of $478,023.00. Following the transaction, the director owned 11,050 shares of the company’s stock, valued at $478,023. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kathy Johnson Weiler sold 16,344 shares of AxoGen stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $44.09, for a total transaction of $720,606.96. Following the sale, the director directly owned 16,344 shares of the company’s stock, valued at $720,606.96. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,041 shares of company stock valued at $1,268,792 in the last quarter. Corporate insiders own 2.44% of the company’s stock.

Hedge Funds Weigh In On AxoGen

A number of hedge funds and other institutional investors have recently modified their holdings of the company. First Light Asset Management LLC raised its holdings in shares of AxoGen by 1.2% during the 2nd quarter. First Light Asset Management LLC now owns 4,529,243 shares of the medical equipment provider’s stock valued at $49,142,000 after buying an additional 55,028 shares in the last quarter. Morgan Stanley boosted its stake in AxoGen by 6.5% in the fourth quarter. Morgan Stanley now owns 2,586,870 shares of the medical equipment provider’s stock worth $84,668,000 after buying an additional 157,029 shares in the last quarter. Balyasny Asset Management L.P. grew its position in 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 valued at $20,953,000 after acquiring an additional 1,250,968 shares during the last quarter. Wasatch Advisors LP raised its stake in shares of AxoGen by 14.3% during the third quarter. Wasatch Advisors LP now owns 1,639,351 shares of the medical equipment provider’s stock worth $29,246,000 after acquiring an additional 205,569 shares in the last quarter. Finally, Soleus Capital Management L.P. raised its stake in shares of AxoGen by 0.9% during the second quarter. Soleus Capital Management L.P. now owns 1,459,395 shares of the medical equipment provider’s stock worth $15,834,000 after acquiring an additional 13,278 shares in the last quarter. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

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.