Raymond James Initiates Coverage on AxoGen (NASDAQ:AXGN)

Stock analysts at Raymond James initiated coverage on shares of AxoGen (NASDAQ:AXGN) in a research note issued on Monday, MarketBeat.com reports. The firm set an “outperform” rating and a $13.00 price target on the medical equipment provider’s stock. Raymond James’ price objective would suggest a potential upside of 72.87% from the stock’s current price.

AXGN has been the topic of several other reports. Canaccord Genuity Group reissued a “buy” rating and issued a $15.00 price objective on shares of AxoGen in a report on Thursday, June 20th. StockNews.com cut shares of AxoGen from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $12.25.

AxoGen Stock Performance

Shares of NASDAQ AXGN opened at $7.52 on Monday. The company has a market capitalization of $328.70 million, a PE ratio of -15.04 and a beta of 1.11. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.23 and a current ratio of 3.43. The company’s fifty day moving average price is $6.68 and its 200 day moving average price is $7.81. AxoGen has a 1 year low of $3.45 and a 1 year high of $10.83.

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

Hedge Funds Weigh In On AxoGen

A number of hedge funds have recently made changes to their positions in AXGN. Nisa Investment Advisors LLC increased its position in shares of AxoGen by 534.6% during the fourth 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 in the last quarter. Lazard Asset Management LLC grew its holdings in shares of AxoGen by 30.1% during the first quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock worth $93,000 after buying an additional 2,671 shares in the last quarter. SG Americas Securities LLC raised its position in shares of AxoGen by 45.9% in the fourth quarter. SG Americas Securities LLC now owns 14,823 shares of the medical equipment provider’s stock valued at $101,000 after buying an additional 4,666 shares during the last quarter. Sherbrooke Park Advisers LLC purchased a new position in shares of AxoGen in the third quarter worth about $83,000. Finally, Sentry Investment Management LLC acquired a new position in AxoGen during the fourth quarter worth about $131,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

AxoGen Company Profile

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.