AxoGen (NASDAQ:AXGN) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of AxoGen (NASDAQ:AXGN – Free Report) from a strong-buy rating to a buy rating in a report issued on Sunday,Wall Street Zen reports.

Several other research firms have also weighed in on AXGN. Lake Street Capital restated a “buy” rating and set a $58.00 price target on shares of AxoGen in a research report on Thursday, October 29th. Truist Financial lifted their price objective on shares of AxoGen from $53.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. Raymond James Financial reiterated an “outperform” rating and issued a $57.00 target price on shares of AxoGen in a research note on Thursday, October 29th. Citigroup reissued a “market outperform” rating on shares of AxoGen in a research report on Thursday, July 30th. Finally, Bank of America began coverage on shares of AxoGen in a research report on Monday, October 12th. They set a “buy” rating and a $52.00 target price for the company. Thirteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.92.

Get Our Latest Stock Report on AXGN

AxoGen Stock Performance

Shares of AxoGen stock opened at $50.89 on Friday. The business’s fifty day simple moving average is $42.77 and its 200 day simple moving average is $40.10. The company has a current ratio of 12.02, a quick ratio of 10.67 and a debt-to-equity ratio of 0.04. AxoGen has a 12 month low of $23.00 and a 12 month high of $52.91. The firm has a market capitalization of $3.04 billion, a P/E ratio of -78.29 and a beta of 1.21.

AxoGen (NASDAQ:AXGN – Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The medical equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. AxoGen had a negative return on equity of 5.35% and a negative net margin of 11.96%. The firm had revenue of $75.83 million during the quarter, compared to the consensus estimate of $73.45 million. As a group, analysts anticipate that AxoGen will post -0.36 EPS for the current year.

Insider Buying and Selling at AxoGen

In other news, Director Joseph Tyndall sold 3,500 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $49.70, for a total transaction of $173,950.00. Following the completion of the transaction, the director owned 10,650 shares in the company, valued at approximately $529,305. This represents a 24.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.44% of the company’s stock.

Institutional Investors Weigh In On AxoGen

Several institutional investors have recently added to or reduced their stakes in AXGN. State of Alaska Department of Revenue increased its stake in shares of AxoGen by 16.9% in the third quarter. State of Alaska Department of Revenue now owns 2,833 shares of the medical equipment provider’s stock worth $118,000 after purchasing an additional 409 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of AxoGen by 6.2% in the first quarter. PNC Financial Services Group Inc. now owns 8,943 shares of the medical equipment provider’s stock valued at $296,000 after purchasing an additional 525 shares during the period. Advisor Resource Council raised its position in shares of AxoGen by 6.8% in the third quarter. Advisor Resource Council now owns 8,749 shares of the medical equipment provider’s stock valued at $367,000 after purchasing an additional 556 shares during the period. Global Retirement Partners LLC lifted its stake in shares of AxoGen by 2,822.7% during the 3rd quarter. Global Retirement Partners LLC now owns 643 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 621 shares in the last quarter. Finally, Nykredit A S purchased a new stake in shares of AxoGen during the 2nd quarter valued at approximately $30,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

About AxoGen

(Get Free Report)

AxoGen, Inc. is a medical technology company focused on repairing peripheral nerve injuries—damage to nerves outside the brain and spinal cord. Its products are used by surgeons in procedures intended to restore nerve function and sensation. The company’s offerings include Avance Nerve Graft, a processed human nerve allograft used to bridge gaps in damaged nerves, and Axoguard products designed to protect, connect or cap nerves during repair. Axogen also provides education and support for healthcare professionals who use its nerve-repair solutions.

Further Reading

Analyst Recommendations for AxoGen (NASDAQ:AXGN)

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