AxoGen, Inc (NASDAQ:AXGN) has been given an average recommendation of “Buy” by the six ratings firms that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $41.33.
AXGN has been the topic of several analyst reports. ValuEngine downgraded AxoGen from a “buy” rating to a “hold” rating in a research report on Wednesday, January 9th. Cantor Fitzgerald set a $26.00 price target on AxoGen and gave the stock a “buy” rating in a research report on Friday, January 18th. Finally, BidaskClub downgraded AxoGen from a “buy” rating to a “hold” rating in a research report on Thursday, March 14th.
A number of hedge funds have recently bought and sold shares of AXGN. Oppenheimer Asset Management Inc. acquired a new stake in AxoGen in the 4th quarter worth about $77,000. NumerixS Investment Technologies Inc acquired a new stake in AxoGen in the 4th quarter worth about $131,000. Citigroup Inc. boosted its holdings in AxoGen by 17.4% in the 4th quarter. Citigroup Inc. now owns 9,905 shares of the medical equipment provider’s stock worth $202,000 after buying an additional 1,467 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in AxoGen by 356.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,929 shares of the medical equipment provider’s stock worth $223,000 after buying an additional 8,536 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in AxoGen by 5.8% in the 4th quarter. Legal & General Group Plc now owns 12,826 shares of the medical equipment provider’s stock worth $262,000 after buying an additional 702 shares during the last quarter. Institutional investors own 89.06% of the company’s stock.
AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Tuesday, February 26th. The medical equipment provider reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02. The company had revenue of $23.40 million for the quarter, compared to the consensus estimate of $23.40 million. AxoGen had a negative return on equity of 15.77% and a negative net margin of 26.68%. The firm’s revenue for the quarter was up 37.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.07) EPS. As a group, analysts predict that AxoGen will post -0.61 earnings per share for the current fiscal year.
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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