AxoGen (NASDAQ:AXGN) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of AxoGen (NASDAQ:AXGN) from a buy rating to a hold rating in a research report released on Saturday.

Several other brokerages have also weighed in on AXGN. Zacks Research upgraded AxoGen from a “strong sell” rating to a “hold” rating in a research report on Friday, May 29th. Canaccord Genuity Group upped their target price on AxoGen from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Raymond James Financial reaffirmed an “outperform” rating and issued a $48.00 target price on shares of AxoGen in a research report on Wednesday, April 29th. Citizens Jmp lifted their price target on shares of AxoGen from $42.00 to $50.00 and gave the stock a “market outperform” rating in a research note on Wednesday, April 29th. Finally, Wells Fargo & Company boosted their price target on shares of AxoGen from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $46.50.

AxoGen Stock Up 0.2%

NASDAQ AXGN opened at $39.85 on Friday. AxoGen has a twelve month low of $11.25 and a twelve month high of $46.95. The stock has a market cap of $2.12 billion, a PE ratio of -62.27 and a beta of 1.09. The firm has a 50-day simple moving average of $42.29 and a 200 day simple moving average of $36.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.33 and a current ratio of 7.10.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.05). The firm had revenue of $61.46 million for the quarter, compared to the consensus estimate of $57.85 million. AxoGen had a negative net margin of 13.21% and a negative return on equity of 9.63%. On average, research analysts forecast that AxoGen will post -0.37 EPS for the current year.

Insider Buying and Selling at AxoGen

In other AxoGen news, Director Kathy Johnson Weiler sold 16,344 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $44.09, for a total value of $720,606.96. Following the transaction, the director directly owned 16,344 shares in the company, valued at $720,606.96. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Johnson sold 11,050 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $43.26, for a total transaction of $478,023.00. Following the sale, the director directly owned 11,050 shares of the company’s stock, valued at approximately $478,023. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,041 shares of company stock worth $1,268,792 over the last ninety days. Corporate insiders own 2.44% of the company’s stock.

Institutional Investors Weigh In On AxoGen

A number of hedge funds and other institutional investors have recently bought and sold shares of AXGN. First Light Asset Management LLC boosted its stake in AxoGen by 1.2% in the second quarter. First Light Asset Management LLC now owns 4,529,243 shares of the medical equipment provider’s stock worth $49,142,000 after purchasing an additional 55,028 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of AxoGen by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 2,869,955 shares of the medical equipment provider’s stock worth $93,934,000 after purchasing an additional 190,557 shares during the last quarter. Morgan Stanley increased its stake in shares of AxoGen by 6.5% in the fourth quarter. Morgan Stanley now owns 2,586,870 shares of the medical equipment provider’s stock valued at $84,668,000 after buying an additional 157,029 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in shares of AxoGen by 183.9% in the second quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider’s stock valued at $20,953,000 after buying an additional 1,250,968 shares in the last quarter. Finally, Wasatch Advisors LP raised its holdings in shares of AxoGen by 101.1% in the first quarter. Wasatch Advisors LP now owns 1,857,350 shares of the medical equipment provider’s stock valued at $61,534,000 after buying an additional 933,778 shares during the last quarter. 80.29% of the stock is owned by institutional investors and hedge funds.

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.