AxoGen, Inc. (NASDAQ:AXGN) had its target price increased by Leerink Swann from $23.00 to $26.00 in a research note issued to investors on Thursday, November 2nd. The brokerage currently has an outperform rating on the medical equipment provider’s stock.
Other equities analysts also recently issued reports about the stock. BidaskClub downgraded shares of AxoGen from a strong-buy rating to a buy rating in a research note on Friday, July 28th. Roth Capital restated a buy rating and set a $21.00 price objective (up from $18.00) on shares of AxoGen in a research note on Tuesday, September 12th. Finally, Cantor Fitzgerald restated a buy rating and set a $18.00 price objective on shares of AxoGen in a research note on Monday, August 21st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $24.40.
AxoGen (NASDAQ:AXGN) traded up $1.85 during trading on Thursday, hitting $26.15. 725,700 shares of the stock were exchanged, compared to its average volume of 210,812. AxoGen has a one year low of $8.05 and a one year high of $26.35. The company has a debt-to-equity ratio of 1.93, a current ratio of 3.55 and a quick ratio of 2.95.
AxoGen (NASDAQ:AXGN) last posted its quarterly earnings data on Wednesday, November 1st. The medical equipment provider reported ($0.06) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.06). AxoGen had a negative net margin of 24.74% and a negative return on equity of 91.00%. The company had revenue of $16.05 million during the quarter, compared to the consensus estimate of $15.55 million. AxoGen’s quarterly revenue was up 43.2% on a year-over-year basis. sell-side analysts expect that AxoGen will post -0.33 earnings per share for the current fiscal year.
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In other AxoGen news, Director Guido J. Neels sold 1,150,000 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $19.74, for a total value of $22,701,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert James Rudelius sold 16,143 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $18.00, for a total transaction of $290,574.00. Following the completion of the transaction, the director now directly owns 43,273 shares in the company, valued at $778,914. The disclosure for this sale can be found here. 9.33% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in AxoGen by 9.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,223,069 shares of the medical equipment provider’s stock valued at $20,486,000 after acquiring an additional 101,245 shares during the period. Bank of New York Mellon Corp raised its holdings in AxoGen by 293.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 631,563 shares of the medical equipment provider’s stock valued at $12,222,000 after acquiring an additional 471,209 shares during the period. Russell Investments Group Ltd. raised its holdings in AxoGen by 238.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 611,678 shares of the medical equipment provider’s stock valued at $10,245,000 after acquiring an additional 431,057 shares during the period. Gilder Gagnon Howe & Co. LLC raised its holdings in AxoGen by 1.5% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 568,124 shares of the medical equipment provider’s stock valued at $9,516,000 after acquiring an additional 8,608 shares during the period. Finally, State Street Corp raised its holdings in AxoGen by 19.6% in the 2nd quarter. State Street Corp now owns 438,641 shares of the medical equipment provider’s stock valued at $7,350,000 after acquiring an additional 71,752 shares during the period. 67.89% of the stock is currently owned by hedge funds and other institutional investors.
AxoGen Company Profile
AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The companys surgical nerve repair solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed 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 nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
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