AxoGen, Inc. (NASDAQ:AXGN) had its price objective upped by research analysts at Leerink Swann from $23.00 to $26.00 in a research note issued on Thursday. The firm presently has an “outperform” rating on the medical equipment provider’s stock. Leerink Swann’s price target indicates a potential upside of 26.52% from the company’s previous close.
Several other equities analysts also recently commented on AXGN. BidaskClub downgraded AxoGen from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Cantor Fitzgerald reiterated a “buy” rating and issued a $18.00 price objective on shares of AxoGen in a research note on Monday, August 21st. Finally, Roth Capital reissued a “buy” rating and set a $21.00 target price (up previously from $18.00) on shares of AxoGen in a report on Tuesday, September 12th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. AxoGen currently has an average rating of “Buy” and an average target price of $18.00.
AxoGen (NASDAQ:AXGN) last posted its quarterly earnings data on Wednesday, November 1st. The medical equipment provider reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). AxoGen had a negative return on equity of 114.64% and a negative net margin of 27.50%. The business had revenue of $16.05 million for the quarter, compared to the consensus estimate of $15.55 million. The company’s revenue was up 43.2% on a year-over-year basis.
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In other news, Director Robert James Rudelius sold 16,143 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $18.00, for a total value of $290,574.00. Following the transaction, the director now owns 43,273 shares of the company’s stock, valued at $778,914. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 9.33% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Strs Ohio bought a new position in shares of AxoGen in the third quarter worth $689,000. Castleark Management LLC bought a new position in shares of AxoGen in the second quarter worth $5,426,000. Susquehanna International Group LLP increased its holdings in shares of AxoGen by 247.1% in the second quarter. Susquehanna International Group LLP now owns 16,619 shares of the medical equipment provider’s stock worth $278,000 after purchasing an additional 27,919 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of AxoGen by 6.0% in the second quarter. The Manufacturers Life Insurance Company now owns 23,616 shares of the medical equipment provider’s stock worth $395,000 after purchasing an additional 1,335 shares during the period. Finally, State Street Corp increased its holdings in shares of AxoGen by 19.6% in the second quarter. State Street Corp now owns 438,641 shares of the medical equipment provider’s stock worth $7,350,000 after purchasing an additional 71,752 shares during the period. 66.81% of the stock is currently owned by hedge funds and other institutional investors.
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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