Brokerages Set AxoGen, Inc (AXGN) Target Price at $42.25

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.

AXGN traded down $1.66 during midday trading on Friday, hitting $20.47. 18,305 shares of the company were exchanged, compared to its average volume of 692,974. The company has a market capitalization of $798.76 million, a P/E ratio of -38.48 and a beta of 0.16. AxoGen has a 1-year low of $14.13 and a 1-year high of $56.85.

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.

About AxoGen

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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