AxoGen, Inc. (NASDAQ:AXGN) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• AxoGen has a consensus rating of "Moderate Buy" from 10 analysts (9 buys, 1 sell) with an average 12‑month price target of $39.75 and several firms setting targets around $40–$42.
• Insider Erick Wayne Devinney sold 5,221 shares at $32.84 on March 16, slightly reducing his stake; insiders own 2.78% of the company while institutional investors hold 80.29%.
• AxoGen reported quarterly EPS of $0.07 (missing estimates by $0.01), has a negative net margin (-6.97%) and ROE (-13.44%), analysts forecast -0.14 EPS for the fiscal year, and the stock trades near $37 with a ~$1.93 billion market cap.

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) has received a consensus rating of "Moderate Buy" from the ten research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and nine have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $39.75.

A number of research analysts recently weighed in on the company. Raymond James Financial reaffirmed an "outperform" rating and set a $41.00 price objective on shares of AxoGen in a research report on Monday, February 23rd. Citizens Jmp increased their target price on AxoGen from $34.00 to $42.00 and gave the stock a "market outperform" rating in a research note on Tuesday, February 24th. Wells Fargo & Company started coverage on AxoGen in a research report on Thursday, February 19th. They issued an "overweight" rating and a $40.00 price target for the company. Wall Street Zen cut shares of AxoGen from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 28th. Finally, Canaccord Genuity Group restated a "buy" rating and set a $40.00 price objective on shares of AxoGen in a research note on Monday, March 30th.

Insider Activity at AxoGen

In other news, insider Erick Wayne Devinney sold 5,221 shares of the company's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $32.84, for a total transaction of $171,457.64. Following the transaction, the insider directly owned 262,781 shares of the company's stock, valued at $8,629,728.04. This represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.78% of the company's stock.

Hedge Funds Weigh In On AxoGen

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. MCF Advisors LLC bought a new stake in shares of AxoGen in the fourth quarter worth approximately $30,000. Arax Advisory Partners grew its stake in shares of AxoGen by 362.4% during the 4th quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider's stock valued at $34,000 after purchasing an additional 819 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of AxoGen during the 4th quarter valued at about $36,000. Kestra Advisory Services LLC bought a new position in shares of AxoGen in the 4th quarter worth approximately $39,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of AxoGen in the third quarter worth approximately $27,000. Institutional investors own 80.29% of the company's stock.

AxoGen Trading Down 3.5%

NASDAQ:AXGN opened at $37.17 on Tuesday. The firm has a market capitalization of $1.93 billion, a P/E ratio of -109.32 and a beta of 0.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 5.11 and a quick ratio of 3.31. AxoGen has a one year low of $9.22 and a one year high of $39.99. The company's 50-day simple moving average is $32.78 and its 200 day simple moving average is $29.29.

AxoGen (NASDAQ:AXGN - Get Free Report) last released its earnings results on Tuesday, February 24th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). AxoGen had a negative net margin of 6.97% and a negative return on equity of 13.44%. The business had revenue of $59.90 million for the quarter, compared to analysts' expectations of $59.90 million. As a group, analysts forecast that AxoGen will post -0.14 EPS for the current fiscal year.

About AxoGen

AxoGen, Inc is a Florida-based medical technology company that develops and commercializes surgical solutions for peripheral nerve damage. Founded in 2002 and headquartered in Alachua, Florida, the company focuses on restoring nerve function and improving patient outcomes through innovative biologic and engineered products. AxoGen's offerings address a range of traumatic and iatrogenic injuries, offering alternatives to traditional nerve autografts.

The company's core product portfolio includes the Avance® Nerve Graft, a decellularized human nerve allograft designed to bridge nerve gaps without the need for a secondary harvest site, and the Axoguard® Nerve Connector and Protector devices, which facilitate nerve coaptation and protect repaired sites from surrounding scar tissue.

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