AxoGen, Inc. (NASDAQ:AXGN) Receives $13.80 Consensus Price Target from Brokerages

AxoGen, Inc. (NASDAQ:AXGN) has been assigned a consensus recommendation of “Buy” from the five research firms that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have covered the stock in the last year is $13.80.

Several analysts have weighed in on the company. JMP Securities raised their price target on AxoGen from $17.00 to $20.00 and gave the company a “market outperform” rating in a report on Friday, August 9th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $15.00 price target on shares of AxoGen in a report on Thursday, June 20th. Raymond James assumed coverage on AxoGen in a report on Monday, July 1st. They issued an “outperform” rating and a $13.00 price target on the stock. Finally, StockNews.com raised AxoGen from a “hold” rating to a “buy” rating in a report on Friday.

AxoGen Stock Up 2.5 %

Shares of NASDAQ AXGN opened at $13.67 on Friday. AxoGen has a 52 week low of $3.45 and a 52 week high of $15.08. The business has a 50-day simple moving average of $12.20 and a two-hundred day simple moving average of $8.97. The company has a quick ratio of 2.32, a current ratio of 3.51 and a debt-to-equity ratio of 0.70. The company has a market cap of $597.45 million, a P/E ratio of -27.34 and a beta of 1.13.

AxoGen (NASDAQ:AXGN) last issued its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.10. AxoGen had a negative return on equity of 17.30% and a negative net margin of 9.53%. The business had revenue of $47.91 million during the quarter, compared to the consensus estimate of $43.27 million. Research analysts anticipate that AxoGen will post -0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AxoGen

A number of large investors have recently modified their holdings of the company. First Light Asset Management LLC raised its holdings in shares of AxoGen by 336.6% during the 2nd quarter. First Light Asset Management LLC now owns 3,344,033 shares of the medical equipment provider’s stock valued at $24,211,000 after buying an additional 2,578,147 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in AxoGen by 2,014.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,310,811 shares of the medical equipment provider’s stock worth $9,490,000 after purchasing an additional 1,248,823 shares during the period. Silvercrest Asset Management Group LLC increased its stake in AxoGen by 4.5% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 790,647 shares of the medical equipment provider’s stock worth $6,381,000 after purchasing an additional 34,399 shares during the period. Divisadero Street Capital Management LP increased its stake in AxoGen by 587.2% in the 2nd quarter. Divisadero Street Capital Management LP now owns 686,994 shares of the medical equipment provider’s stock worth $4,974,000 after purchasing an additional 587,024 shares during the period. Finally, Kent Lake Capital LLC purchased a new position in AxoGen in the 1st quarter worth approximately $1,617,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

AxoGen Company Profile

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.