AxoGen, Inc. (NASDAQ:AXGN) – Cantor Fitzgerald issued their FY2017 earnings estimates for shares of AxoGen in a note issued to investors on Sunday, according to Zacks Investment Research. Cantor Fitzgerald analyst C. Bijou anticipates that the medical equipment provider will post earnings per share of ($0.31) for the year. Cantor Fitzgerald has a “Buy” rating and a $37.00 price objective on the stock. Cantor Fitzgerald also issued estimates for AxoGen’s FY2018 earnings at ($0.27) EPS.
Other research analysts have also issued reports about the stock. Lake Street Capital lifted their price target on shares of AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, November 21st. Wedbush reaffirmed a “buy” rating and issued a $27.00 price target (up from $22.00) on shares of AxoGen in a report on Tuesday, November 21st. BidaskClub lowered shares of AxoGen from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 11th. Jefferies Group began coverage on shares of AxoGen in a research note on Thursday, November 30th. They set a “buy” rating and a $35.00 target price for the company. Finally, Leerink Swann boosted their target price on shares of AxoGen from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, November 21st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $29.33.
AxoGen (NASDAQ:AXGN) last posted its quarterly earnings results on Wednesday, November 1st. The medical equipment provider reported ($0.06) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.06). AxoGen had a negative net margin of 24.74% and a negative return on equity of 91.00%. The business had revenue of $16.05 million during the quarter, compared to analyst estimates of $15.55 million. AxoGen’s revenue for the quarter was up 43.2% compared to the same quarter last year.
In other AxoGen news, Director Jamie Mark Grooms sold 84,295 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $26.38, for a total transaction of $2,223,702.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Guido J. Neels sold 1,150,000 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $19.74, for a total transaction of $22,701,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,293,990 shares of company stock valued at $26,494,898 over the last three months. 9.33% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC bought a new stake in shares of AxoGen during the 2nd quarter worth about $201,000. Valeo Financial Advisors LLC bought a new stake in shares of AxoGen during the 3rd quarter worth about $244,000. OxFORD Asset Management LLP bought a new stake in shares of AxoGen during the 3rd quarter worth about $270,000. Nationwide Fund Advisors raised its position in shares of AxoGen by 5.5% during the 2nd quarter. Nationwide Fund Advisors now owns 14,874 shares of the medical equipment provider’s stock worth $249,000 after buying an additional 774 shares in the last quarter. Finally, Susquehanna International Group LLP raised its position in shares of AxoGen by 247.1% during the 2nd quarter. Susquehanna International Group LLP now owns 16,619 shares of the medical equipment provider’s stock worth $278,000 after buying an additional 27,919 shares in the last quarter. Institutional investors own 66.00% of the company’s stock.
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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