AxoGen (NASDAQ:AXGN) Stock Rating Upgraded by StockNews.com

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

Several other equities analysts have also recently weighed in on AXGN. Canaccord Genuity Group restated a “buy” rating and set a $15.00 price objective on shares of AxoGen in a research note on Thursday, June 20th. JMP Securities raised their price objective on AxoGen from $17.00 to $20.00 and gave the company a “market outperform” rating in a research note on Friday, August 9th. Finally, Raymond James assumed coverage on AxoGen in a research note on Monday, July 1st. They set an “outperform” rating and a $13.00 price objective on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $15.00.

AxoGen Price Performance

Shares of AXGN opened at $14.46 on Tuesday. AxoGen has a 12-month low of $3.45 and a 12-month high of $15.23. The business’s fifty day moving average is $13.21 and its 200 day moving average is $9.37. The company has a quick ratio of 2.32, a current ratio of 3.51 and a debt-to-equity ratio of 0.70. The stock has a market cap of $631.97 million, a P/E ratio of -28.92 and a beta of 1.13.

AxoGen (NASDAQ:AXGN) last issued its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $47.91 million for the quarter, compared to analysts’ expectations of $43.27 million. Sell-side analysts anticipate that AxoGen will post -0.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC purchased a new position in AxoGen in the third quarter valued at about $56,000. Koss Olinger Consulting LLC purchased a new stake in shares of AxoGen during the 2nd quarter valued at approximately $75,000. Lazard Asset Management LLC lifted its stake in shares of AxoGen by 30.1% during the 1st quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock valued at $93,000 after buying an additional 2,671 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of AxoGen during the 3rd quarter valued at approximately $227,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of AxoGen during the 2nd quarter valued at approximately $125,000. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

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.