AxoGen, Inc. (AXGN) PT Raised to $30.00 at Leerink Swann
AxoGen, Inc. (NASDAQ:AXGN) had its price objective increased by equities researchers at Leerink Swann from $26.00 to $30.00 in a report released on Tuesday. The brokerage presently has an “outperform” rating on the medical equipment provider’s stock. Leerink Swann’s price objective indicates a potential upside of 16.73% from the stock’s current price.
Several other analysts also recently weighed in on the stock. BidaskClub downgraded shares of AxoGen from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Roth Capital reaffirmed a “buy” rating and issued a $21.00 target price (up previously from $18.00) on shares of AxoGen in a report on Tuesday, September 12th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $18.00 target price on shares of AxoGen in a report on Monday, August 21st. Lake Street Capital lifted their target price on shares of AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Wedbush reaffirmed a “buy” rating and issued a $27.00 target price (up previously from $22.00) on shares of AxoGen in a report on Tuesday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $24.40.
AxoGen (NASDAQ:AXGN) opened at $25.70 on Tuesday. The company has a quick ratio of 2.95, a current ratio of 3.55 and a debt-to-equity ratio of 1.93. AxoGen has a one year low of $8.05 and a one year high of $26.45.
AxoGen (NASDAQ:AXGN) last issued its earnings results on Wednesday, November 1st. The medical equipment provider reported ($0.06) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.06). The business had revenue of $16.05 million for the quarter, compared to the consensus estimate of $15.55 million. AxoGen had a negative net margin of 24.74% and a negative return on equity of 91.00%. The company’s revenue was up 43.2% on a year-over-year basis. research analysts forecast that AxoGen will post -0.33 EPS for the current year.
In other AxoGen news, Director Guido J. Neels sold 1,150,000 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $19.74, for a total value of $22,701,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert James Rudelius sold 16,143 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $18.00, for a total transaction of $290,574.00. Following the completion of the sale, the director now directly owns 43,273 shares in the company, valued at approximately $778,914. The disclosure for this sale can be found here. 9.33% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its holdings in shares of AxoGen by 80.7% in the second quarter. Bank of New York Mellon Corp now owns 160,354 shares of the medical equipment provider’s stock valued at $2,685,000 after purchasing an additional 71,609 shares in the last quarter. Bradley Foster & Sargent Inc. CT raised its position in shares of AxoGen by 536.6% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 78,905 shares of the medical equipment provider’s stock valued at $1,322,000 after buying an additional 66,510 shares during the last quarter. Menta Capital LLC raised its position in shares of AxoGen by 7.1% in the second quarter. Menta Capital LLC now owns 116,845 shares of the medical equipment provider’s stock valued at $1,957,000 after buying an additional 7,777 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of AxoGen in the second quarter valued at approximately $947,000. Finally, Columbia Partners L L C Investment Management raised its position in shares of AxoGen by 11.8% in the second quarter. Columbia Partners L L C Investment Management now owns 286,146 shares of the medical equipment provider’s stock valued at $4,792,000 after buying an additional 30,176 shares during the last quarter. 67.89% of the stock is currently owned by institutional investors.
AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The companys surgical nerve repair 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 injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
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