AxoGen (NASDAQ:AXGN) Upgraded to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded AxoGen from hold to buy, adding to a generally positive analyst backdrop for the stock.
• Despite one recent sell rating, the broader analyst view remains constructive: nine analysts rate AxoGen a Buy, with a consensus rating of Moderate Buy and a $46.50 target price.
• AxoGen’s latest earnings showed $0.07 EPS, below expectations, even though revenue of $61.46 million topped estimates; insiders also sold shares recently, while institutional investors own about 80% of the company.

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

Other equities analysts have also recently issued reports about the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of AxoGen in a report on Friday, May 29th. Citizens Jmp raised their price objective on AxoGen from $42.00 to $50.00 and gave the company a "market outperform" rating in a report on Wednesday, April 29th. Raymond James Financial restated an "outperform" rating and issued a $48.00 target price on shares of AxoGen in a research report on Wednesday, April 29th. Citigroup reaffirmed an "outperform" rating on shares of AxoGen in a research note on Wednesday, April 29th. Finally, Zacks Research upgraded shares of AxoGen from a "strong sell" rating to a "hold" rating in a research report on Friday, May 29th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.50.

AxoGen Stock Performance

NASDAQ AXGN opened at $45.89 on Friday. AxoGen has a 52-week low of $10.71 and a 52-week high of $46.95. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.33 and a current ratio of 7.10. The company has a market capitalization of $2.44 billion, a P/E ratio of -71.70 and a beta of 1.09. The company has a fifty day moving average of $42.32 and a 200-day moving average of $36.12.

AxoGen (NASDAQ:AXGN - Get Free Report) last released its earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.05). The firm had revenue of $61.46 million during the quarter, compared to the consensus estimate of $57.85 million. AxoGen had a negative net margin of 13.21% and a negative return on equity of 9.63%. As a group, equities research analysts predict that AxoGen will post -0.37 EPS for the current fiscal year.

Insider Buying and Selling at AxoGen

In related news, Director Kathy Johnson Weiler sold 16,344 shares of the 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 directly owned 16,344 shares in the company, valued at $720,606.96. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Johnson sold 11,050 shares of the firm's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $43.26, for a total value of $478,023.00. Following the transaction, the director owned 11,050 shares in the company, valued at approximately $478,023. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,041 shares of company stock worth $1,268,792 over the last three months. Company insiders own 2.44% of the company's stock.

Institutional Trading of AxoGen

Several hedge funds and other institutional investors have recently bought and sold shares of AXGN. First Light Asset Management LLC grew its holdings in shares of 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 last quarter. Vanguard Group Inc. raised its holdings in AxoGen by 7.1% during the 4th quarter. Vanguard Group Inc. now owns 2,869,955 shares of the medical equipment provider's stock valued at $93,934,000 after buying an additional 190,557 shares during the last quarter. Morgan Stanley raised its holdings in AxoGen by 6.5% during the 4th quarter. Morgan Stanley now owns 2,586,870 shares of the medical equipment provider's stock valued at $84,668,000 after buying an additional 157,029 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its position in AxoGen by 20.4% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,958,406 shares of the medical equipment provider's stock valued at $34,938,000 after buying an additional 332,498 shares during the period. Finally, Balyasny Asset Management L.P. boosted its position in AxoGen by 183.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider's stock valued at $20,953,000 after buying an additional 1,250,968 shares during the period. Institutional investors own 80.29% of the company's stock.

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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