AxoGen, Inc. (NASDAQ:AXGN) Stock Has Average Target Price of $57.92 According to Analysts

AxoGen, Inc. (NASDAQ:AXGN) has earned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $57.92.

A number of equities analysts have issued reports on the stock. HC Wainwright lifted their price objective on shares of AxoGen from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Bank of America assumed coverage on shares of AxoGen in a report on Monday, October 12th. They issued a “buy” rating and a $52.00 target price for the company. Citigroup reissued a “market outperform” rating on shares of AxoGen in a research report on Thursday, July 30th. Canaccord Genuity Group boosted their price target on shares of AxoGen from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Finally, Lake Street Capital restated a “buy” rating and set a $58.00 price target on shares of AxoGen in a report on Thursday, October 29th.

AxoGen Stock Up 2.6%

Shares of AxoGen stock traded up $1.27 on Friday, hitting $50.02. The company had a trading volume of 1,665,040 shares, compared to its average volume of 1,910,176. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of -76.95 and a beta of 1.21. AxoGen has a 1 year low of $23.00 and a 1 year high of $52.91. The stock has a 50 day moving average of $42.79 and a 200-day moving average of $39.92. The company has a debt-to-equity ratio of 0.04, a quick ratio of 10.67 and a current ratio of 12.02.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Wednesday, October 28th. The medical equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.08. AxoGen had a negative return on equity of 5.35% and a negative net margin of 11.96%. The company had revenue of $75.83 million for the quarter, compared to analysts’ expectations of $73.45 million. As a group, sell-side analysts forecast that AxoGen will post -0.36 earnings per share for the current year.

Insider Buying and Selling at AxoGen

In other news, Director Joseph A. Tyndall sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $49.70, for a total value of $173,950.00. Following the completion of the transaction, the director directly owned 10,650 shares of the company’s stock, valued at $529,305. This represents a 24.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy Wendell sold 13,353 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $48.42, for a total value of $646,552.26. Following the completion of the transaction, the director directly owned 107,976 shares of the company’s stock, valued at approximately $5,228,197.92. This represents a 11.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 84,353 shares of company stock worth $4,015,952. Insiders own 2.44% of the company’s stock.

Institutional Trading of AxoGen

A number of hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its position in AxoGen by 163.7% in the third quarter. Russell Investments Group Ltd. now owns 334,902 shares of the medical equipment provider’s stock worth $14,039,000 after purchasing an additional 207,916 shares during the last quarter. Lisanti Capital Growth LLC increased its position in shares of AxoGen by 21.9% during the 3rd quarter. Lisanti Capital Growth LLC now owns 110,420 shares of the medical equipment provider’s stock valued at $4,629,000 after purchasing an additional 19,855 shares during the last quarter. Advisor Resource Council raised its stake in shares of AxoGen by 6.8% during the 3rd quarter. Advisor Resource Council now owns 8,749 shares of the medical equipment provider’s stock worth $367,000 after purchasing an additional 556 shares during the period. Calamos Advisors LLC raised its stake in shares of AxoGen by 15.8% during the 3rd quarter. Calamos Advisors LLC now owns 110,210 shares of the medical equipment provider’s stock worth $4,620,000 after purchasing an additional 15,064 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in shares of AxoGen by 46.0% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 30,150 shares of the medical equipment provider’s stock worth $1,264,000 after purchasing an additional 9,500 shares during the period. 80.29% of the stock is currently owned by institutional investors.

AxoGen Company Profile

AxoGen, Inc (NASDAQ: AXGN) is a medical technology company focused on developing and commercializing products for the repair and regeneration of peripheral nerves. Its technologies are designed to help restore sensory and motor function following traumatic injuries, surgical procedures, and other conditions affecting peripheral nerves.

The company’s product portfolio includes Avance Nerve Graft, a processed human nerve allograft used to bridge gaps in damaged nerves without requiring tissue to be taken from another part of the patient’s body.