AxoGen (NASDAQ:AXGN) Rating Lowered to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded AxoGen from a “buy” to a “hold” rating in a report released Saturday, though the broader analyst view still leans positive.
• The stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.50, with nine analysts rating it a Buy.
• AxoGen recently reported mixed quarterly results: revenue topped expectations at $61.46 million, but EPS came in below estimates at $0.07 versus $0.12 expected.

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

AXGN has been the subject of several other research reports. Citizens Jmp raised their price target on AxoGen from $42.00 to $50.00 and gave the stock a "market outperform" rating in a report on Wednesday, April 29th. Citigroup restated an "outperform" rating on shares of AxoGen in a report on Wednesday, April 29th. Canaccord Genuity Group increased their price objective on shares of AxoGen from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Raymond James Financial reiterated an "outperform" rating and issued a $48.00 target price on shares of AxoGen in a research note on Wednesday, April 29th. Finally, Zacks Research raised shares of AxoGen from a "strong sell" rating to a "hold" rating in a research report on Friday, May 29th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.50.

AxoGen Stock Performance

Shares of AXGN opened at $39.85 on Friday. AxoGen has a 12 month low of $11.25 and a 12 month high of $46.95. The stock has a fifty day moving average price of $42.29 and a 200-day moving average price of $36.80. The company has a current ratio of 7.10, a quick ratio of 5.33 and a debt-to-equity ratio of 0.08. The firm has a market cap of $2.12 billion, a PE ratio of -62.27 and a beta of 1.09.

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 the consensus estimate of $0.12 by ($0.05). AxoGen had a negative return on equity of 9.63% and a negative net margin of 13.21%.The business had revenue of $61.46 million for the quarter, compared to analysts' expectations of $57.85 million. Equities research analysts predict that AxoGen will post -0.37 earnings per share for the current fiscal year.

Insider Transactions at AxoGen

In related news, Director Kathy Johnson Weiler sold 16,344 shares of AxoGen stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $44.09, for a total transaction of $720,606.96. Following the completion of the sale, the director owned 16,344 shares of the company's stock, valued at $720,606.96. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Johnson sold 11,050 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $43.26, for a total transaction of $478,023.00. Following the completion of the transaction, the director owned 11,050 shares in the company, valued at approximately $478,023. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 29,041 shares of company stock worth $1,268,792 over the last three months. 2.44% of the stock is currently owned by insiders.

Institutional Trading of AxoGen

A number of hedge funds and other institutional investors have recently made changes to their positions in AXGN. MCF Advisors LLC purchased a new position in shares of AxoGen during the fourth quarter worth $30,000. Aquatic Capital Management LLC boosted its holdings in AxoGen by 287.8% in the third quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider's stock valued at $31,000 after purchasing an additional 1,269 shares during the last quarter. Arax Advisory Partners boosted its holdings in AxoGen by 362.4% in the fourth 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 last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in AxoGen during the 4th quarter worth about $36,000. Finally, Kestra Advisory Services LLC acquired a new stake in AxoGen during the 4th quarter worth about $39,000. Institutional investors and hedge funds own 80.29% of the company's stock.

AxoGen Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.