AxoGen (AXGN) Given “Outperform” Rating at Leerink Swann

Leerink Swann reaffirmed their outperform rating on shares of AxoGen (NASDAQ:AXGN) in a research report released on Tuesday, October 30th, The Fly reports. Leerink Swann currently has a $55.00 price target on the medical equipment provider’s stock. Leerink Swann also issued estimates for AxoGen’s FY2018 earnings at ($0.58) EPS, Q1 2019 earnings at ($0.12) EPS, Q2 2019 earnings at ($0.11) EPS, Q3 2019 earnings at ($0.08) EPS, Q4 2019 earnings at ($0.07) EPS and FY2019 earnings at ($0.38) EPS.

Other equities analysts also recently issued reports about the stock. BidaskClub raised shares of AxoGen from a hold rating to a buy rating in a report on Wednesday, August 29th. Cantor Fitzgerald reissued a buy rating and set a $45.00 price target on shares of AxoGen in a report on Thursday, August 9th. One analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $44.80.

Shares of NASDAQ:AXGN traded up $1.34 during midday trading on Tuesday, reaching $30.64. 520,639 shares of the company’s stock were exchanged, compared to its average volume of 559,329. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -98.84 and a beta of -0.27. AxoGen has a 12 month low of $23.60 and a 12 month high of $56.85.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Monday, October 29th. The medical equipment provider reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). AxoGen had a negative net margin of 25.39% and a negative return on equity of 18.17%. The firm had revenue of $22.66 million during the quarter, compared to the consensus estimate of $22.52 million. During the same period last year, the firm posted ($0.04) EPS. The firm’s quarterly revenue was up 41.2% on a year-over-year basis. As a group, equities research analysts predict that AxoGen will post -0.58 earnings per share for the current fiscal year.

In other AxoGen news, General Counsel Gregory Gene Freitag sold 20,000 shares of the firm’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $32.25, for a total value of $645,000.00. Following the completion of the sale, the general counsel now owns 140,865 shares in the company, valued at approximately $4,542,896.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Karen L. Zaderej sold 25,000 shares of AxoGen stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $33.18, for a total transaction of $829,500.00. Following the sale, the chief executive officer now owns 394,970 shares of the company’s stock, valued at approximately $13,105,104.60. The disclosure for this sale can be found here. Company insiders own 7.86% of the company’s stock.

Several large investors have recently modified their holdings of AXGN. Marshall Wace LLP acquired a new stake in shares of AxoGen during the 2nd quarter worth approximately $58,740,000. Eagle Asset Management Inc. grew its holdings in AxoGen by 237.8% during the second quarter. Eagle Asset Management Inc. now owns 906,339 shares of the medical equipment provider’s stock valued at $45,543,000 after purchasing an additional 638,019 shares during the period. Carillon Tower Advisers Inc. acquired a new position in AxoGen during the second quarter valued at approximately $31,927,000. Jennison Associates LLC grew its holdings in AxoGen by 129.3% during the third quarter. Jennison Associates LLC now owns 861,390 shares of the medical equipment provider’s stock valued at $31,742,000 after purchasing an additional 485,754 shares during the period. Finally, BlackRock Inc. grew its holdings in AxoGen by 18.3% during the second quarter. BlackRock Inc. now owns 2,437,319 shares of the medical equipment provider’s stock valued at $122,476,000 after purchasing an additional 377,275 shares during the period. Institutional investors own 86.11% of the company’s stock.

About AxoGen

AxoGen, Inc develops and markets surgical solutions for peripheral nerve injuries. The company's surgical solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed 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 nerves; and 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.

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