AxoGen (NASDAQ:AXGN) Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded AxoGen from a "buy" to a "hold," signaling more cautious near-term sentiment on the stock.
• Several analysts (Lake Street, HC Wainwright, Citizens, Canaccord) have raised targets to $50, and the consensus remains a "Moderate Buy" with a $46.50 price target.
• AxoGen reported quarterly EPS of $0.07, missing estimates of $0.12 while revenue beat at $61.46M versus $57.85M; the company remains unprofitable with negative net margin and ROE.

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

AXGN has been the subject of a number of other reports. Lake Street Capital raised their target price on AxoGen from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. HC Wainwright raised their target price on AxoGen from $39.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday. Citizens Jmp raised their target price on AxoGen from $42.00 to $50.00 and gave the company a "market outperform" rating in a research note on Wednesday. Canaccord Genuity Group raised their target price on AxoGen from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Zacks Research lowered AxoGen from a "hold" rating to a "strong sell" rating in a research note on Monday, April 27th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $46.50.

AxoGen Stock Performance

Shares of NASDAQ:AXGN opened at $43.28 on Friday. AxoGen has a twelve month low of $9.22 and a twelve month high of $45.83. The firm has a market cap of $2.30 billion, a PE ratio of -67.63 and a beta of 1.17. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.31 and a current ratio of 7.10. The business has a fifty day moving average of $33.65 and a 200-day moving average of $30.38.

AxoGen (NASDAQ:AXGN - Get Free Report) last announced its earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.05). AxoGen had a negative net margin of 13.21% and a negative return on equity of 9.63%. The business had revenue of $61.46 million during the quarter, compared to analyst estimates of $57.85 million. On average, equities research analysts predict that AxoGen will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Erick Wayne Devinney sold 5,221 shares of AxoGen stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $32.84, for a total value of $171,457.64. Following the completion of the sale, the insider directly owned 262,781 shares in the company, valued at $8,629,728.04. This trade represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.78% of the stock is currently owned by insiders.

Institutional Trading of AxoGen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AXGN. First Light Asset Management LLC increased its position in AxoGen by 28.2% in the third quarter. First Light Asset Management LLC now owns 5,805,730 shares of the medical equipment provider's stock worth $103,574,000 after purchasing an additional 1,276,487 shares during the period. Balyasny Asset Management L.P. increased its position in AxoGen by 183.9% in the second quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider's stock worth $20,953,000 after purchasing an additional 1,250,968 shares during the period. Wasatch Advisors LP boosted its holdings in AxoGen by 101.1% during the first quarter. Wasatch Advisors LP now owns 1,857,350 shares of the medical equipment provider's stock worth $61,534,000 after buying an additional 933,778 shares during the last quarter. Millennium Management LLC grew its position in shares of AxoGen by 2,255.8% during the 4th quarter. Millennium Management LLC now owns 971,358 shares of the medical equipment provider's stock worth $31,793,000 after buying an additional 930,126 shares during the period. Finally, Bessemer Group Inc. acquired a new position in shares of AxoGen during the 3rd quarter worth about $14,468,000. 80.29% of the stock is currently owned by institutional investors and hedge funds.

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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