AxoGen (NASDAQ:AXGN) Price Target Raised to $42.00

AxoGen (NASDAQ:AXGN) had its target price boosted by Citizens Jmp from $34.00 to $42.00 in a research report released on Tuesday morning,Benzinga reports. Citizens Jmp currently has a market outperform rating on the medical equipment provider’s stock.

Several other research analysts have also issued reports on the company. Canaccord Genuity Group increased their price target on AxoGen from $27.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Citigroup reissued an “outperform” rating on shares of AxoGen in a research report on Tuesday. Lake Street Capital boosted their price target on shares of AxoGen from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Wall Street Zen upgraded shares of AxoGen from a “buy” rating to a “strong-buy” rating in a report on Friday, January 23rd. Finally, Jefferies Financial Group lifted their price objective on shares of AxoGen from $29.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.67.

AxoGen Trading Up 2.2%

Shares of AXGN stock opened at $31.90 on Tuesday. AxoGen has a fifty-two week low of $9.22 and a fifty-two week high of $36.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.64 and a current ratio of 5.11. The stock has a 50 day simple moving average of $33.09 and a two-hundred day simple moving average of $24.95. The company has a market cap of $1.66 billion, a P/E ratio of -93.82 and a beta of 1.00.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings data on Tuesday, February 24th. The medical equipment provider reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.36). The company had revenue of $59.90 million for the quarter, compared to analyst estimates of $59.90 million. AxoGen had a negative return on equity of 13.44% and a negative net margin of 6.97%. Research analysts forecast that AxoGen will post -0.29 earnings per share for the current year.

Insider Activity

In related news, Director Amy Mcbride Wendell sold 43,684 shares of AxoGen stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $29.31, for a total value of $1,280,378.04. Following the completion of the sale, the director owned 93,826 shares of the company’s stock, valued at approximately $2,750,040.06. This trade represents a 31.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael D. Dale sold 61,463 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $31.21, for a total value of $1,918,260.23. Following the completion of the sale, the chief executive officer owned 88,537 shares in the company, valued at $2,763,239.77. This represents a 40.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 301,680 shares of company stock worth $9,174,052. 2.78% of the stock is owned by insiders.

Hedge Funds Weigh In On AxoGen

Several large investors have recently modified their holdings of AXGN. Royal Bank of Canada boosted its holdings in AxoGen by 14.2% in the 1st quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock worth $704,000 after buying an additional 4,723 shares during the period. AQR Capital Management LLC lifted its position in shares of AxoGen by 45.3% during the first quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider’s stock worth $442,000 after acquiring an additional 7,453 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of AxoGen by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock worth $466,000 after acquiring an additional 1,057 shares during the period. Jones Financial Companies Lllp grew its position in shares of AxoGen by 104,810.0% in the first quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider’s stock valued at $194,000 after purchasing an additional 10,481 shares in the last quarter. Finally, AlphaQuest LLC grew its position in shares of AxoGen by 882.2% in the second quarter. AlphaQuest LLC now owns 6,276 shares of the medical equipment provider’s stock valued at $68,000 after purchasing an additional 5,637 shares in the last quarter. Hedge funds and other institutional investors own 80.29% of the company’s stock.

AxoGen Company Profile

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.