AxoGen (NASDAQ:AXGN) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of AxoGen (NASDAQ:AXGN) from a hold rating to a buy rating in a research report report published on Friday.

A number of other brokerages have also commented on AXGN. Canaccord Genuity Group restated a buy rating and set a $15.00 price objective on shares of AxoGen in a research note on Thursday, June 20th. Raymond James started coverage on shares of AxoGen in a research note on Monday, July 1st. They set an outperform rating and a $13.00 target price on the stock. Finally, JMP Securities upped their price target on shares of AxoGen from $17.00 to $20.00 and gave the stock a market outperform rating in a research note on Friday, August 9th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, AxoGen presently has a consensus rating of Buy and a consensus target price of $13.80.

AxoGen Stock Up 0.2 %

AXGN stock opened at $13.70 on Friday. AxoGen has a fifty-two week low of $3.45 and a fifty-two week high of $15.08. The company has a quick ratio of 2.32, a current ratio of 3.51 and a debt-to-equity ratio of 0.70. The stock has a market cap of $598.76 million, a PE ratio of -27.40 and a beta of 1.13. The firm’s 50-day simple moving average is $12.39 and its 200 day simple moving average is $9.07.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings data on Thursday, August 8th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.10. AxoGen had a negative return on equity of 17.30% and a negative net margin of 9.53%. The business had revenue of $47.91 million during the quarter, compared to the consensus estimate of $43.27 million. As a group, sell-side analysts predict that AxoGen will post -0.33 EPS for the current year.

Institutional Investors Weigh In On AxoGen

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its position in shares of AxoGen by 8.6% in the 1st quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider’s stock valued at $168,000 after purchasing an additional 1,651 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of AxoGen by 8.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,650 shares of the medical equipment provider’s stock worth $240,000 after buying an additional 2,204 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of AxoGen by 30.1% in the first quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock worth $93,000 after buying an additional 2,671 shares during the period. Rhumbline Advisers increased its position in shares of AxoGen by 6.2% in the second quarter. Rhumbline Advisers now owns 58,157 shares of the medical equipment provider’s stock worth $421,000 after acquiring an additional 3,380 shares in the last quarter. Finally, Koss Olinger Consulting LLC acquired a new stake in shares of AxoGen during the second quarter valued at approximately $75,000. 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.