AxoGen (NASDAQ:AXGN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of AxoGen (NASDAQ:AXGN) from a hold rating to a strong-buy rating in a research report released on Saturday morning,Wall Street Zen reports.

A number of other research firms also recently issued reports on AXGN. Morgan Stanley downgraded shares of AxoGen to a “hold” rating in a research report on Tuesday, September 29th. Wells Fargo & Company upped their price objective on AxoGen from $48.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, October 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of AxoGen in a report on Wednesday, August 26th. Citizens Jmp upped their price objective on shares of AxoGen from $50.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 30th. Finally, Mizuho set a $65.00 target price on shares of AxoGen in a research note on Wednesday, October 28th. Thirteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned 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 $57.92.

AxoGen Trading Up 1.0%

AxoGen stock opened at $49.85 on Friday. The stock has a 50-day moving average price of $42.84 and a 200 day moving average price of $39.54. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of -76.69 and a beta of 1.17. AxoGen has a 52 week low of $21.92 and a 52 week high of $52.91. The company has a quick ratio of 5.04, a current ratio of 6.60 and a debt-to-equity ratio of 0.07.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings results on Wednesday, October 28th. The medical equipment provider reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.08. AxoGen had a negative net margin of 11.96% and a negative return on equity of 7.18%. The company had revenue of $75.83 million for the quarter, compared to the consensus estimate of $73.45 million. Sell-side analysts anticipate that AxoGen will post -0.44 EPS for the current year.

Insider Activity at AxoGen

In other news, EVP Marc A. Began sold 67,500 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $47.34, for a total transaction of $3,195,450.00. Following the completion of the sale, the executive vice president owned 50,135 shares of the company’s stock, valued at $2,373,390.90. The trade was a 57.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathy Weiler sold 14,150 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $45.30, for a total transaction of $640,995.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 98,503 shares of company stock valued at $4,656,947. 2.44% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AxoGen

Several institutional investors have recently bought and sold shares of AXGN. Nykredit A S acquired a new position in shares of AxoGen during the second quarter valued at approximately $30,000. KBC Group NV purchased a new position in shares of AxoGen in the first quarter valued at approximately $41,000. Sterling Capital Management LLC increased its position in shares of AxoGen by 858.9% during the third quarter. Sterling Capital Management LLC now owns 1,774 shares of the medical equipment provider’s stock worth $74,000 after purchasing an additional 1,589 shares in the last quarter. State of Alaska Department of Revenue raised its stake in AxoGen by 16.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 2,833 shares of the medical equipment provider’s stock valued at $118,000 after purchasing an additional 409 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in AxoGen in the 2nd quarter valued at $203,000. 80.29% of the stock is currently owned by institutional investors and hedge funds.

AxoGen Company Profile

AxoGen, Inc (NASDAQ: AXGN) is a medical technology company focused on developing and commercializing products for the repair and regeneration of peripheral nerves. Its technologies are designed to help restore sensory and motor function following traumatic injuries, surgical procedures, and other conditions affecting peripheral nerves.

The company’s product portfolio includes Avance Nerve Graft, a processed human nerve allograft used to bridge gaps in damaged nerves without requiring tissue to be taken from another part of the patient’s body.