AxoGen (NASDAQ:AXGN) Earns Outperform Rating from Analysts at Raymond James

Raymond James began coverage on shares of AxoGen (NASDAQ:AXGN) in a research note issued to investors on Monday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $13.00 price objective on the medical equipment provider’s stock.

A number of other analysts have also issued reports on the company. StockNews.com lowered AxoGen from a buy rating to a hold rating in a report on Monday, May 6th. Canaccord Genuity Group reiterated a buy rating and issued a $15.00 price target on shares of AxoGen in a report on Thursday, June 20th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, AxoGen currently has an average rating of Moderate Buy and a consensus target price of $12.25.

AxoGen Stock Up 1.9 %

Shares of NASDAQ:AXGN opened at $7.66 on Monday. AxoGen has a 1 year low of $3.45 and a 1 year high of $10.83. The business has a 50 day simple moving average of $6.70 and a two-hundred day simple moving average of $7.81. The firm has a market capitalization of $334.82 million, a PE ratio of -15.32 and a beta of 1.11. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.43 and a quick ratio of 2.23.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.04. The firm had revenue of $41.38 million during the quarter, compared to analyst estimates of $42.05 million. AxoGen had a negative return on equity of 22.18% and a negative net margin of 12.99%. On average, equities analysts predict that AxoGen will post -0.48 EPS for the current year.

Hedge Funds Weigh In On AxoGen

Large investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its position in shares of AxoGen by 534.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,805 shares of the medical equipment provider’s stock worth $53,000 after purchasing an additional 6,575 shares in the last quarter. Sherbrooke Park Advisers LLC acquired a new position in shares of AxoGen in the 3rd quarter valued at $83,000. Lazard Asset Management LLC increased its position in shares of AxoGen by 30.1% in the 1st quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock valued at $93,000 after acquiring an additional 2,671 shares during the period. SG Americas Securities LLC increased its position in shares of AxoGen by 45.9% in the 4th quarter. SG Americas Securities LLC now owns 14,823 shares of the medical equipment provider’s stock valued at $101,000 after acquiring an additional 4,666 shares during the period. Finally, Sentry Investment Management LLC acquired a new position in shares of AxoGen in the 4th quarter valued at $131,000. Institutional investors own 80.29% of the company’s stock.

About AxoGen

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company's products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral 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 peripheral nerves; 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; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.