AxoGen (NASDAQ:AXGN) Downgraded by Wall Street Zen to "Hold"

Key Points

• Wall Street Zen downgraded AxoGen to “Hold” from “Buy,” though the broader analyst consensus remains “Moderate Buy” with a $52.11 price target.
• AxoGen’s latest quarterly results met expectations, with EPS of $0.12 and revenue of $69.73 million exceeding the $67.10 million estimate; analysts expect a full-year loss of $0.45 per share.
• Insiders sold 98,503 shares worth approximately $4.66 million in the past quarter, while institutional investors own 80.29% of the company.

AxoGen (NASDAQ:AXGN - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other equities analysts also recently weighed in on the stock. Jefferies Financial Group reaffirmed a "buy" rating and issued a $55.00 target price on shares of AxoGen in a research note on Wednesday, July 29th. Truist Financial initiated coverage on shares of AxoGen in a report on Wednesday, August 26th. They issued a "buy" rating and a $60.00 price target for the company. HC Wainwright boosted their price objective on shares of AxoGen from $50.00 to $53.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Raymond James Financial increased their price objective on AxoGen from $48.00 to $53.00 and gave the company an "outperform" rating in a research report on Friday. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of AxoGen in a research note on Wednesday, August 26th. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.11.

AxoGen Stock Up 0.2%

NASDAQ AXGN opened at $43.39 on Friday. The stock's 50 day simple moving average is $45.80 and its 200 day simple moving average is $41.36. AxoGen has a one year low of $15.27 and a one year high of $52.91. The firm has a market cap of $2.33 billion, a PE ratio of -63.81 and a beta of 1.16. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.60 and a quick ratio of 5.04.

AxoGen (NASDAQ:AXGN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. The firm had revenue of $69.73 million during the quarter, compared to the consensus estimate of $67.10 million. AxoGen had a negative return on equity of 8.90% and a negative net margin of 13.36%. As a group, sell-side analysts forecast that AxoGen will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling at AxoGen

In other AxoGen news, EVP Marc Began sold 67,500 shares of AxoGen stock in a transaction on Monday, August 10th. The shares were sold at an average price of $47.34, for a total transaction of $3,195,450.00. Following the completion of the sale, the executive vice president owned 50,135 shares of the company's stock, valued at approximately $2,373,390.90. The trade was a 57.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy Wendell sold 13,353 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $48.42, for a total value of $646,552.26. Following the completion of the transaction, the director directly owned 107,976 shares in the company, valued at approximately $5,228,197.92. This trade represents a 11.01% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 98,503 shares of company stock worth $4,656,947 over the last quarter. 2.44% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AxoGen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in AxoGen in the second quarter valued at about $204,123,000. Wasatch Advisors LP increased its stake in AxoGen by 101.1% during the 1st quarter. Wasatch Advisors LP now owns 1,857,350 shares of the medical equipment provider's stock worth $61,534,000 after purchasing an additional 933,778 shares in the last quarter. Next Century Growth Investors LLC bought a new stake in AxoGen during the 4th quarter worth approximately $26,180,000. Perceptive Advisors LLC acquired a new stake in AxoGen during the 4th quarter worth approximately $25,665,000. Finally, Bamco Inc. NY bought a new position in AxoGen in the second quarter valued at approximately $34,190,000. Institutional investors own 80.29% of the company's stock.

About AxoGen

AxoGen, Inc NASDAQ: AXGN is a medical technology company focused on the repair and regeneration of damaged peripheral nerves. The company develops and markets biologic and surgical products intended to help restore sensory and motor function following traumatic nerve injuries or surgical procedures.

Its product portfolio includes Avance Nerve Graft, a processed human nerve allograft used to bridge gaps in damaged nerves; Axoguard Nerve Connector, designed to protect and support the repair of smaller nerve injuries; and Axoguard Nerve Protector, a collagen-based product intended to help protect repaired nerves and reduce the effects of scar tissue.

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