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

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) has been given an average rating of "Buy" by the five ratings firms that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have covered the stock in the last year is $22.60.

A number of brokerages have issued reports on AXGN. Cantor Fitzgerald reiterated an "overweight" rating and set a $24.00 target price on shares of AxoGen in a research note on Wednesday, March 5th. Canaccord Genuity Group increased their price objective on AxoGen from $22.00 to $26.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Finally, Lake Street Capital assumed coverage on AxoGen in a research report on Monday, March 17th. They set a "buy" rating and a $30.00 price target on the stock.

AxoGen Price Performance

Shares of NASDAQ:AXGN traded down $1.23 on Tuesday, reaching $11.36. 1,705,642 shares of the company were exchanged, compared to its average volume of 449,129. The company has a 50-day moving average of $16.74 and a 200-day moving average of $16.31. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67. The firm has a market cap of $517.28 million, a price-to-earnings ratio of -35.50 and a beta of 1.19. AxoGen has a 1-year low of $5.65 and a 1-year high of $21.00.

AxoGen (NASDAQ:AXGN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The medical equipment provider reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.07). AxoGen had a negative return on equity of 14.91% and a negative net margin of 7.91%. Equities analysts forecast that AxoGen will post -0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AxoGen news, Director Amy Mcbride Wendell sold 5,000 shares of AxoGen stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $20.02, for a total value of $100,100.00. Following the completion of the transaction, the director now owns 97,899 shares in the company, valued at approximately $1,959,937.98. The trade was a 4.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Erick Wayne Devinney sold 15,111 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total transaction of $264,442.50. Following the sale, the insider now directly owns 217,762 shares in the company, valued at approximately $3,810,835. This represents a 6.49 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AxoGen

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Divisadero Street Capital Management LP boosted its stake in AxoGen by 2.7% in the fourth quarter. Divisadero Street Capital Management LP now owns 26,972 shares of the medical equipment provider's stock valued at $444,000 after acquiring an additional 700 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in AxoGen by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,128 shares of the medical equipment provider's stock valued at $398,000 after purchasing an additional 926 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of AxoGen by 8.3% during the fourth quarter. Principal Financial Group Inc. now owns 16,000 shares of the medical equipment provider's stock worth $264,000 after purchasing an additional 1,228 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of AxoGen by 2.7% in the 4th quarter. Rhumbline Advisers now owns 58,232 shares of the medical equipment provider's stock valued at $960,000 after buying an additional 1,521 shares during the period. Finally, R Squared Ltd acquired a new stake in AxoGen during the 4th quarter worth $30,000. 80.29% of the stock is owned by institutional investors and hedge funds.

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.