AxoGen (NASDAQ:AXGN) Rating Lowered to Hold at StockNews.com

AxoGen (NASDAQ:AXGN) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

AXGN has been the subject of several other research reports. Canaccord Genuity Group reiterated a “buy” rating and set a $15.00 price target on shares of AxoGen in a research note on Thursday, June 20th. Raymond James started coverage on AxoGen in a research note on Monday, July 1st. They set an “outperform” rating and a $13.00 price target for the company. Finally, JMP Securities upped their price target on AxoGen from $17.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $13.80.

AxoGen Stock Performance

NASDAQ AXGN remained flat at $13.02 on Monday. The company’s stock had a trading volume of 366,135 shares, compared to its average volume of 397,038. The firm has a 50-day simple moving average of $10.21 and a 200 day simple moving average of $8.37. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.51 and a quick ratio of 2.32. AxoGen has a 1 year low of $3.45 and a 1 year high of $13.35. The company has a market capitalization of $570.67 million, a P/E ratio of -26.04 and a beta of 1.12.

AxoGen (NASDAQ:AXGN) last issued its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. The firm had revenue of $47.91 million for the quarter, compared to the consensus estimate of $43.27 million. AxoGen had a negative return on equity of 17.30% and a negative net margin of 9.53%. On average, analysts anticipate that AxoGen will post -0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AxoGen

Large investors have recently made changes to their positions in the business. Koss Olinger Consulting LLC acquired a new position in AxoGen in the 2nd quarter valued at approximately $75,000. 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 valued at $93,000 after acquiring an additional 2,671 shares in the last quarter. Acadian Asset Management LLC acquired a new position in AxoGen in the 2nd quarter valued at approximately $125,000. BNP Paribas Financial Markets raised its holdings in AxoGen by 8.6% in the 1st quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider’s stock valued at $168,000 after acquiring an additional 1,651 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in AxoGen by 8.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,650 shares of the medical equipment provider’s stock valued at $240,000 after acquiring an additional 2,204 shares in the last quarter. 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.