AxoGen, Inc. (NASDAQ:AXGN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

AxoGen, Inc. (NASDAQ:AXGN) has been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $46.50.

AXGN has been the topic of several recent research reports. HC Wainwright raised their price target on shares of AxoGen from $39.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Raymond James Financial reiterated an “outperform” rating and issued a $48.00 price objective on shares of AxoGen in a research note on Wednesday, April 29th. Canaccord Genuity Group increased their price objective on shares of AxoGen from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Wells Fargo & Company increased their price objective on shares of AxoGen from $40.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Finally, Lake Street Capital increased their price objective on shares of AxoGen from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd.

AxoGen Price Performance

Shares of NASDAQ AXGN opened at $40.90 on Friday. AxoGen has a fifty-two week low of $9.22 and a fifty-two week high of $45.83. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of -63.91 and a beta of 1.17. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.33 and a current ratio of 7.10. The firm’s 50-day simple moving average is $36.62 and its 200 day simple moving average is $32.78.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results 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 net margin of 13.21% and a negative return on equity of 9.63%. The business had revenue of $61.46 million during the quarter, compared to the consensus estimate of $57.85 million. As a group, research analysts anticipate that AxoGen will post -0.3 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Erick Wayne Devinney sold 5,221 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $32.84, for a total transaction of $171,457.64. Following the completion of the transaction, the insider directly owned 262,781 shares of the company’s stock, valued at $8,629,728.04. This represents a 1.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathy Johnson Weiler sold 16,344 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $44.09, for a total transaction of $720,606.96. Following the transaction, 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. In the last 90 days, insiders have sold 34,262 shares of company stock worth $1,440,250. Corporate insiders own 2.44% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AXGN. MCF Advisors LLC bought a new position in shares of AxoGen during the 4th quarter valued at approximately $30,000. Aquatic Capital Management LLC grew its position in shares of AxoGen by 287.8% during the 3rd quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock valued at $31,000 after acquiring an additional 1,269 shares during the period. Arax Advisory Partners grew its position in shares of AxoGen by 362.4% during the 4th quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock valued at $34,000 after acquiring an additional 819 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of AxoGen during the 4th quarter valued at approximately $36,000. Finally, Kestra Advisory Services LLC bought a new position in AxoGen in the 4th quarter worth approximately $39,000. 80.29% of the stock is owned by 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.