Barclays upgraded shares of AxoGen (NASDAQ:AXGN – Free Report) to a strong-buy rating in a report issued on Tuesday,Zacks reports.
Other equities analysts have also issued research reports about the stock. Citizens Jmp increased their price target on shares of AxoGen from $50.00 to $55.00 and gave the company a “market outperform” rating in a research report on Thursday, July 30th. Wall Street Zen lowered shares of AxoGen from a “buy” rating to a “hold” rating in a research report on Saturday, September 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AxoGen in a research note on Wednesday, August 26th. Raymond James Financial increased their target price on shares of AxoGen from $48.00 to $53.00 and gave the company an “outperform” rating in a research report on Friday, September 25th. Finally, Truist Financial decreased their price target on shares of AxoGen from $60.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, October 1st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.70.
AxoGen Stock Performance
AxoGen (NASDAQ:AXGN – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.12. AxoGen had a negative return on equity of 8.90% and a negative net margin of 13.36%.The firm had revenue of $69.73 million during the quarter, compared to the consensus estimate of $67.10 million. As a group, analysts anticipate that AxoGen will post -0.44 EPS for the current year.
Insider Transactions at AxoGen
In related news, EVP Marc Began sold 67,500 shares of AxoGen stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $47.34, for a total value of $3,195,450.00. Following the completion of the sale, the executive vice president owned 50,135 shares of the company’s stock, valued at approximately $2,373,390.90. This trade represents a 57.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathy Weiler sold 14,150 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $45.30, for a total value of $640,995.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 98,503 shares of company stock worth $4,656,947. Insiders own 2.44% of the company’s stock.
Institutional Trading of AxoGen
Several hedge funds and other institutional investors have recently modified their holdings of AXGN. PNC Financial Services Group Inc. increased its position in shares of AxoGen by 6.2% during 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 buying an additional 525 shares during the period. Nykredit A S purchased a new stake in shares of AxoGen in the second quarter worth about $30,000. Arizona State Retirement System boosted its position in shares of AxoGen by 7.6% in the second quarter. Arizona State Retirement System now owns 13,604 shares of the medical equipment provider’s stock valued at $628,000 after acquiring an additional 966 shares during the period. Principal Financial Group Inc. boosted its position in shares of AxoGen by 1.4% in the first quarter. Principal Financial Group Inc. now owns 89,745 shares of the medical equipment provider’s stock valued at $2,973,000 after acquiring an additional 1,210 shares during the period. Finally, KBC Group NV purchased a new position in AxoGen during the first quarter valued at approximately $41,000. Institutional investors own 80.29% of the company’s stock.
AxoGen Company Profile
AxoGen, Inc is a medical technology company focused on repairing and regenerating damaged peripheral nerves. The company develops and commercializes products for use by surgeons treating traumatic nerve injuries and other conditions in which nerve function has been compromised.
AxoGen’s product portfolio includes Avance Nerve Graft, a processed human nerve allograft designed to bridge gaps in damaged nerves without requiring tissue to be taken from another part of the patient’s body. Its offerings also include Axoguard Nerve Connector and Axoguard Nerve Protector products, which are designed to support nerve repair and protect nerves during healing, as well as other products for peripheral nerve reconstruction.
Founded in 2002, AxoGen is headquartered in Alachua, Florida.
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