Cantor Fitzgerald Reaffirms “Buy” Rating for AxoGen, Inc Common Stock (AXGN)
Cantor Fitzgerald reaffirmed their buy rating on shares of AxoGen, Inc Common Stock (NASDAQ:AXGN) in a report released on Thursday. Cantor Fitzgerald currently has a $45.00 price target on the medical equipment provider’s stock.
“. We reiterate our Overweight rating and $45 PT on AXGN shares. We hosted investor meetings with AXGN yesterday (8/7) and came away more confident that AXGN has taken steps to address the agency issues that led to its 2Q revenue miss. Although disappointing, AXGN’s 2Q miss should be put in perspective. The company missed revenue consensus by $500k (although investor expectations were likely higher than consensus), but AXGN’s revenue still grew 36% in 2Q, and the company reiterated full-year 2018 guidance of 40%+ top-line growth and an 80%+ gross margin.”,” Cantor Fitzgerald’s analyst commented.
Several other research analysts also recently issued reports on AXGN. JMP Securities raised their price objective on shares of AxoGen, Inc Common Stock from $34.00 to $43.00 and gave the stock a market outperform rating in a research report on Tuesday, May 1st. ValuEngine raised shares of AxoGen, Inc Common Stock from a buy rating to a strong-buy rating in a report on Wednesday, May 2nd. Leerink Swann reaffirmed an outperform rating and issued a $70.00 target price on shares of AxoGen, Inc Common Stock in a report on Tuesday, June 26th. Finally, BidaskClub downgraded shares of AxoGen, Inc Common Stock from a strong-buy rating to a buy rating in a report on Thursday, July 12th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. AxoGen, Inc Common Stock has a consensus rating of Buy and an average target price of $41.29.
AxoGen, Inc Common Stock (NASDAQ:AXGN) last issued its quarterly earnings data on Wednesday, August 1st. The medical equipment provider reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.01). AxoGen, Inc Common Stock had a negative return on equity of 26.50% and a negative net margin of 24.96%. The business had revenue of $20.58 million for the quarter, compared to analysts’ expectations of $21.25 million. During the same period in the previous year, the business posted ($0.04) earnings per share. The company’s revenue for the quarter was up 35.7% on a year-over-year basis. sell-side analysts anticipate that AxoGen, Inc Common Stock will post -0.61 earnings per share for the current year.
In other news, SVP Shawn F. Mccarrey sold 10,000 shares of AxoGen, Inc Common Stock stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $43.47, for a total value of $434,700.00. Following the sale, the senior vice president now owns 33,057 shares of the company’s stock, valued at $1,436,987.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.86% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of AxoGen, Inc Common Stock by 18.3% in the second quarter. BlackRock Inc. now owns 2,437,319 shares of the medical equipment provider’s stock valued at $122,476,000 after acquiring an additional 377,275 shares in the last quarter. Eagle Asset Management Inc. boosted its holdings in AxoGen, Inc Common Stock by 237.8% during the second quarter. Eagle Asset Management Inc. now owns 906,339 shares of the medical equipment provider’s stock worth $45,543,000 after buying an additional 638,019 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in AxoGen, Inc Common Stock by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 903,086 shares of the medical equipment provider’s stock worth $45,380,000 after buying an additional 25,748 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in AxoGen, Inc Common Stock by 8.6% during the second quarter. Wells Fargo & Company MN now owns 772,422 shares of the medical equipment provider’s stock worth $38,814,000 after buying an additional 61,011 shares in the last quarter. Finally, Carillon Tower Advisers Inc. purchased a new stake in AxoGen, Inc Common Stock during the second quarter worth about $31,927,000. 76.81% of the stock is currently owned by institutional investors and hedge funds.
AxoGen, Inc Common Stock Company Profile
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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