AxoGen (NASDAQ:AXGN) Upgraded at StockNews.com

StockNews.com upgraded shares of AxoGen (NASDAQ:AXGN) from a hold rating to a buy rating in a report released on Tuesday morning.

Several other equities analysts have also recently commented on AXGN. 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 research report on Friday, August 9th. Canaccord Genuity Group reiterated a buy rating and set a $15.00 price target on shares of AxoGen in a report on Thursday, June 20th. Finally, Raymond James started coverage on AxoGen in a research note on Monday, July 1st. They issued an outperform rating and a $13.00 price objective for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of Buy and an average target price of $13.80.

AxoGen Stock Down 4.0 %

AXGN stock opened at $14.08 on Tuesday. The firm has a market capitalization of $615.37 million, a PE ratio of -28.16 and a beta of 1.12. The company has a quick ratio of 2.32, a current ratio of 3.51 and a debt-to-equity ratio of 0.70. AxoGen has a twelve month low of $3.45 and a twelve month high of $15.08. The stock’s 50 day moving average is $11.22 and its 200-day moving average is $8.60.

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

Institutional Investors Weigh In On AxoGen

Institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC raised its stake in shares of AxoGen by 186.1% during the 2nd quarter. Squarepoint Ops LLC now owns 60,913 shares of the medical equipment provider’s stock valued at $441,000 after purchasing an additional 39,624 shares during the period. First Light Asset Management LLC lifted its holdings in shares of AxoGen by 336.6% in the second quarter. First Light Asset Management LLC now owns 3,344,033 shares of the medical equipment provider’s stock worth $24,211,000 after buying an additional 2,578,147 shares in the last quarter. Divisadero Street Capital Management LP boosted its position in shares of AxoGen by 587.2% in the second quarter. Divisadero Street Capital Management LP now owns 686,994 shares of the medical equipment provider’s stock valued at $4,974,000 after acquiring an additional 587,024 shares during the period. Rice Hall James & Associates LLC grew its stake in AxoGen by 26.8% during the second quarter. Rice Hall James & Associates LLC now owns 194,269 shares of the medical equipment provider’s stock valued at $1,407,000 after acquiring an additional 41,095 shares in the last quarter. Finally, Koss Olinger Consulting LLC bought a new stake in AxoGen during the 2nd quarter worth approximately $75,000. Hedge funds and other 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.