AxoGen (AXGN) Upgraded at BidaskClub

AxoGen (NASDAQ:AXGN) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Wednesday.

Several other equities research analysts also recently weighed in on AXGN. BTIG Research assumed coverage on AxoGen in a report on Wednesday, November 14th. They set a “neutral” rating for the company. Cantor Fitzgerald decreased their price target on AxoGen from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, October 30th. Finally, Leerink Swann reaffirmed an “outperform” rating and set a $55.00 price target on shares of AxoGen in a report on Tuesday, October 30th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $44.80.

Shares of NASDAQ AXGN opened at $31.78 on Wednesday. AxoGen has a 1-year low of $23.60 and a 1-year high of $56.85. The firm has a market cap of $1.28 billion, a P/E ratio of -102.52 and a beta of -0.24.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings results on Monday, October 29th. The medical equipment provider reported ($0.05) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.05). AxoGen had a negative return on equity of 18.17% and a negative net margin of 25.39%. The firm had revenue of $22.66 million during the quarter, compared to the consensus estimate of $22.52 million. During the same period last year, the company earned ($0.04) earnings per share. The company’s revenue for the quarter was up 41.2% on a year-over-year basis. Analysts anticipate that AxoGen will post -0.58 EPS for the current year.

In other AxoGen news, General Counsel Gregory Gene Freitag sold 20,000 shares of the stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $32.25, for a total value of $645,000.00. Following the completion of the transaction, the general counsel now owns 140,865 shares in the company, valued at $4,542,896.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Karen L. Zaderej sold 25,000 shares of the stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $33.18, for a total value of $829,500.00. Following the completion of the transaction, the chief executive officer now owns 394,970 shares of the company’s stock, valued at approximately $13,105,104.60. The disclosure for this sale can be found here. Insiders sold 90,000 shares of company stock valued at $2,959,500 in the last quarter. 7.86% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Bank of Montreal Can purchased a new position in AxoGen in the second quarter worth $180,000. Princeton Capital Management LLC purchased a new position in shares of AxoGen in the third quarter valued at $184,000. Jane Street Group LLC purchased a new position in shares of AxoGen in the second quarter valued at $201,000. Quantitative Systematic Strategies LLC purchased a new position in shares of AxoGen in the second quarter valued at $207,000. Finally, Beacon Investment Advisory Services Inc. purchased a new position in shares of AxoGen in the second quarter valued at $243,000. Hedge funds and other institutional investors own 88.59% of the company’s stock.

AxoGen Company Profile

AxoGen, Inc develops and markets surgical solutions for peripheral nerve injuries. The company's surgical 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 damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.

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Analyst Recommendations for AxoGen (NASDAQ:AXGN)

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