StockNews.com Upgrades AxoGen (NASDAQ:AXGN) to “Buy”

AxoGen (NASDAQ:AXGN) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

A number of other research firms 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 AxoGen in a report on Monday, July 1st. They set an “outperform” rating and a $13.00 price objective for the company. Finally, JMP Securities boosted their target price on AxoGen from $17.00 to $20.00 and gave the company a “market outperform” rating in a research note on Friday, August 9th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $13.80.

AxoGen Stock Up 2.5 %

AxoGen stock opened at $13.67 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.32 and a current ratio of 3.51. The stock has a market cap of $597.45 million, a PE ratio of -27.34 and a beta of 1.13. AxoGen has a fifty-two week low of $3.45 and a fifty-two week high of $15.08. The firm’s 50-day simple moving average is $12.29 and its 200 day simple moving average is $9.01.

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

Hedge Funds Weigh In On AxoGen

A number of large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its stake in AxoGen by 8.6% in the 1st 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 period. Roubaix Capital LLC purchased a new position in AxoGen during the first quarter valued at approximately $351,000. Lazard Asset Management LLC increased its holdings in AxoGen by 30.1% during the 1st quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock worth $93,000 after acquiring an additional 2,671 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in AxoGen by 8.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,650 shares of the medical equipment provider’s stock worth $240,000 after purchasing an additional 2,204 shares in the last quarter. Finally, First Light Asset Management LLC boosted its holdings in AxoGen by 177.0% in the 1st quarter. First Light Asset Management LLC now owns 765,886 shares of the medical equipment provider’s stock valued at $6,181,000 after purchasing an additional 489,397 shares during the period. 80.29% of the stock is owned by 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.