AxoGen (NASDAQ:AXGN – Get Free Report) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.
A number of other analysts have also recently issued reports on AXGN. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $15.00 price objective on shares of AxoGen in a research report on Thursday, June 20th. Raymond James started coverage on shares of AxoGen in a research report on Monday, July 1st. They issued an “outperform” rating and a $13.00 price objective on the stock. Finally, JMP Securities lifted their target price on shares of AxoGen from $17.00 to $20.00 and gave the stock a “market outperform” rating in a report on Friday, August 9th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AxoGen has a consensus rating of “Buy” and a consensus target price of $13.80.
Get Our Latest Research Report on AxoGen
AxoGen Stock Up 2.9 %
AxoGen (NASDAQ:AXGN – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.10. The firm had revenue of $47.91 million during the quarter, compared to analysts’ expectations of $43.27 million. AxoGen had a negative return on equity of 17.30% and a negative net margin of 9.53%. Research analysts anticipate that AxoGen will post -0.33 earnings per share for the current fiscal year.
Institutional Trading of AxoGen
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Koss Olinger Consulting LLC bought a new position in AxoGen in the 2nd quarter valued at approximately $75,000. Lazard Asset Management LLC raised its stake in shares of AxoGen by 30.1% during the first 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 last quarter. Acadian Asset Management LLC acquired a new position in shares of AxoGen during the second quarter worth $125,000. BNP Paribas Financial Markets grew its stake in shares of AxoGen by 8.6% in the first quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider’s stock worth $168,000 after purchasing an additional 1,651 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in AxoGen by 8.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,650 shares of the medical equipment provider’s stock valued at $240,000 after purchasing an additional 2,204 shares during the period. 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.
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