Analysts Set AxoGen, Inc. (NASDAQ:AXGN) Price Target at $13.80

AxoGen, Inc. (NASDAQ:AXGN) has been given a consensus rating of “Buy” by the five ratings firms that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $13.80.

A number of equities research analysts have recently weighed in on AXGN shares. Raymond James started coverage on AxoGen in a research report on Monday, July 1st. They issued an “outperform” rating and a $13.00 price objective on the stock. JMP Securities lifted their price objective on AxoGen from $17.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Friday, August 9th. StockNews.com upgraded AxoGen from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $15.00 price objective on shares of AxoGen in a research report on Thursday, June 20th.

AxoGen Price Performance

Shares of AxoGen stock opened at $13.67 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.51 and a quick ratio of 2.32. The business’s 50 day simple moving average is $12.20 and its two-hundred day simple moving average is $8.97. The stock has a market capitalization of $597.45 million, a P/E ratio of -27.34 and a beta of 1.13. AxoGen has a one year low of $3.45 and a one year high of $15.08.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.10. The business had revenue of $47.91 million for the quarter, compared to analysts’ expectations of $43.27 million. AxoGen had a negative return on equity of 17.30% and a negative net margin of 9.53%. Analysts forecast that AxoGen will post -0.33 EPS for the current year.

Institutional Investors Weigh In On AxoGen

Several hedge funds have recently made changes to their positions in the company. First Light Asset Management LLC boosted its position in shares of AxoGen by 336.6% during the second quarter. First Light Asset Management LLC now owns 3,344,033 shares of the medical equipment provider’s stock valued at $24,211,000 after purchasing an additional 2,578,147 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of AxoGen by 2,014.6% during the second quarter. Assenagon Asset Management S.A. now owns 1,310,811 shares of the medical equipment provider’s stock valued at $9,490,000 after purchasing an additional 1,248,823 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its position in shares of AxoGen by 4.5% during the first quarter. Silvercrest Asset Management Group LLC now owns 790,647 shares of the medical equipment provider’s stock valued at $6,381,000 after purchasing an additional 34,399 shares in the last quarter. Divisadero Street Capital Management LP boosted its position in shares of AxoGen by 587.2% during the second quarter. Divisadero Street Capital Management LP now owns 686,994 shares of the medical equipment provider’s stock valued at $4,974,000 after purchasing an additional 587,024 shares in the last quarter. Finally, Kent Lake Capital LLC bought a new stake in shares of AxoGen during the first quarter valued at approximately $1,617,000. 80.29% of the stock is currently owned by institutional investors.

AxoGen Company Profile

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company’s products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral 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 peripheral nerves; AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.