AxoGen (AXGN) Stock Rating Upgraded by BidaskClub

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BidaskClub upgraded shares of AxoGen (NASDAQ:AXGN) from a hold rating to a buy rating in a research note issued to investors on Wednesday.

Several other research analysts have also weighed in on the stock. Leerink Swann restated an outperform rating and set a $55.00 target price on shares of AxoGen in a research report on Tuesday, October 30th. Cantor Fitzgerald restated a buy rating and set a $45.00 target price on shares of AxoGen in a research report on Thursday, August 9th. Finally, BTIG Research started coverage on shares of AxoGen in a report on Wednesday, November 14th. They issued a neutral rating on the stock. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $44.80.

Shares of AXGN opened at $29.67 on Wednesday. AxoGen has a twelve month low of $23.60 and a twelve month high of $56.85.

AxoGen (NASDAQ:AXGN) last issued its earnings results on Monday, October 29th. The medical equipment provider reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). AxoGen had a negative net margin of 25.39% and a negative return on equity of 18.17%. The company had revenue of $22.66 million for the quarter, compared to analyst estimates of $22.52 million. During the same period in the prior year, the business posted ($0.04) earnings per share. The firm’s revenue for the quarter was up 41.2% compared to the same quarter last year. As a group, analysts forecast that AxoGen will post -0.58 earnings per share for the current year.

In other AxoGen news, General Counsel Gregory Gene Freitag sold 20,000 shares of the company’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $32.25, for a total value of $645,000.00. Following the sale, the general counsel now owns 140,865 shares of the company’s stock, valued at $4,542,896.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Karen L. Zaderej sold 25,000 shares of the company’s stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $33.18, for a total transaction of $829,500.00. Following the completion of the sale, the chief executive officer now directly owns 394,970 shares in the company, valued at approximately $13,105,104.60. The disclosure for this sale can be found here. Insiders sold 90,000 shares of company stock worth $2,959,500 in the last ninety days. Insiders own 7.86% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of Montreal Can purchased a new position in shares of AxoGen during the second quarter valued at approximately $180,000. Princeton Capital Management LLC purchased a new position in shares of AxoGen during the third quarter valued at approximately $184,000. Jane Street Group LLC purchased a new position in shares of AxoGen during the second quarter valued at approximately $201,000. Quantitative Systematic Strategies LLC purchased a new position in shares of AxoGen during the second quarter valued at approximately $207,000. Finally, Beacon Investment Advisory Services Inc. purchased a new position in shares of AxoGen during the second quarter valued at approximately $243,000. 88.59% of the stock is currently owned by institutional investors.

About AxoGen

AxoGen, Inc develops and markets surgical solutions for peripheral nerve injuries. The company's surgical solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed 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 nerves; and 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.

Further Reading: How Do You Calculate Return on Equity (ROE)?

Analyst Recommendations for AxoGen (NASDAQ:AXGN)

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