AxoGen’s (AXGN) Buy Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of AxoGen (NASDAQ:AXGNFree Report) in a report published on Thursday, Benzinga reports. The firm currently has a $15.00 price target on the medical equipment provider’s stock.

Separately, cut AxoGen from a buy rating to a hold rating in a report on Monday, May 6th.

Check Out Our Latest Stock Report on AxoGen

AxoGen Stock Performance

AxoGen stock opened at $7.00 on Thursday. The company has a quick ratio of 2.23, a current ratio of 3.43 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $305.97 million, a P/E ratio of -14.00 and a beta of 1.06. The stock’s 50 day moving average is $6.60 and its 200 day moving average is $7.82. AxoGen has a twelve month low of $3.45 and a twelve month high of $10.83.

AxoGen (NASDAQ:AXGNGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.04. The company had revenue of $41.38 million for the quarter, compared to the consensus estimate of $42.05 million. AxoGen had a negative return on equity of 22.18% and a negative net margin of 12.99%. On average, equities research analysts predict that AxoGen will post -0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AxoGen

Institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC raised its holdings in AxoGen by 534.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,805 shares of the medical equipment provider’s stock worth $53,000 after purchasing an additional 6,575 shares during the period. Eagle Asset Management Inc. bought a new position in AxoGen in the 3rd quarter worth $63,000. Sherbrooke Park Advisers LLC bought a new position in AxoGen in the 3rd quarter worth $83,000. Lazard Asset Management LLC raised its holdings in AxoGen by 30.1% in the 1st quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock worth $93,000 after purchasing an additional 2,671 shares during the period. Finally, SG Americas Securities LLC increased its stake in AxoGen by 45.9% in the 4th quarter. SG Americas Securities LLC now owns 14,823 shares of the medical equipment provider’s stock worth $101,000 after buying an additional 4,666 shares in the last quarter. 80.29% of the stock is owned by institutional investors.

About AxoGen

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AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company's products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral 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 peripheral nerves; 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; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.

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