AxoGen, Inc. (NASDAQ:AXGN) – Investment analysts at Jefferies Group issued their FY2017 earnings per share estimates for AxoGen in a note issued to investors on Thursday. Jefferies Group analyst R. Denhoy anticipates that the medical equipment provider will post earnings per share of ($0.33) for the year. Jefferies Group currently has a “Buy” rating and a $35.00 target price on the stock. Jefferies Group also issued estimates for AxoGen’s Q4 2017 earnings at ($0.09) EPS, Q1 2018 earnings at ($0.07) EPS, Q2 2018 earnings at ($0.03) EPS, Q3 2018 earnings at ($0.08) EPS, Q4 2018 earnings at ($0.09) EPS, FY2018 earnings at ($0.27) EPS, FY2019 earnings at ($0.13) EPS, FY2020 earnings at $0.13 EPS and FY2021 earnings at $0.46 EPS.
A number of other research analysts have also recently weighed in on the stock. Leerink Swann lifted their price target on shares of AxoGen from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, November 21st. 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 research report on Tuesday, November 21st. Wedbush reaffirmed a “buy” rating and set a $27.00 price target (up from $22.00) on shares of AxoGen in a research report on Tuesday, November 21st. Roth Capital reaffirmed a “buy” rating and set a $21.00 price target (up from $18.00) on shares of AxoGen in a research report on Tuesday, September 12th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $18.00 price target on shares of AxoGen in a research report on Monday, August 21st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $26.17.
AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Wednesday, November 1st. The medical equipment provider reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). The firm had revenue of $16.05 million for the quarter, compared to analysts’ expectations of $15.55 million. AxoGen had a negative net margin of 24.74% and a negative return on equity of 91.00%. The firm’s revenue for the quarter was up 43.2% on a year-over-year basis.
Several hedge funds and other institutional investors have recently bought and sold shares of AXGN. Bank of New York Mellon Corp lifted its position in shares of AxoGen by 293.9% during the third quarter. Bank of New York Mellon Corp now owns 631,563 shares of the medical equipment provider’s stock worth $12,222,000 after purchasing an additional 471,209 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of AxoGen by 238.7% in the second quarter. Russell Investments Group Ltd. now owns 611,678 shares of the medical equipment provider’s stock worth $10,245,000 after buying an additional 431,057 shares during the last quarter. Castleark Management LLC bought a new stake in shares of AxoGen in the second quarter worth $5,426,000. Bamco Inc. NY bought a new stake in shares of AxoGen in the third quarter worth $3,443,000. Finally, Renaissance Technologies LLC bought a new stake in shares of AxoGen in the first quarter worth $1,473,000. 67.26% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Guido J. Neels sold 1,150,000 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $19.74, for a total transaction of $22,701,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert James Rudelius sold 16,143 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $18.00, for a total transaction of $290,574.00. Following 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. Insiders own 9.33% of the company’s stock.
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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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