AxoGen, Inc. (NASDAQ:AXGN) Stock Has Average Target Price of $51.73

Key Points

• Analyst sentiment is moderately bullish: Fifteen analysts give AxoGen a consensus “Moderate Buy” rating, with 11 buys, two holds, one sell, and one strong buy. The average 12-month price target is $51.73 versus the reported share price of $36.85.
• Shares declined 0.7% to $36.85 during mid-day trading, while the company reported quarterly EPS of $0.12, in line with estimates, and revenue of $69.73 million, above the $67.10 million consensus.
• Insiders sold $4.66 million of stock in the latest quarter, while institutional investors own 80.29% of AxoGen. The company develops medical technologies and products for peripheral nerve repair and regeneration.

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) has been given an average rating of "Moderate Buy" by the fifteen analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $51.73.

AXGN has been the topic of a number of research analyst reports. Morgan Stanley cut AxoGen to a "hold" rating in a research report on Tuesday, September 29th. Wall Street Zen downgraded AxoGen from a "buy" rating to a "hold" rating in a report on Saturday, September 26th. Citizens Jmp upped their target price on AxoGen from $50.00 to $55.00 and gave the company a "market outperform" rating in a research report on Thursday, July 30th. Barclays initiated coverage on AxoGen in a research note on Tuesday, October 6th. They set an "overweight" rating and a $55.00 price target on the stock. Finally, Citigroup restated a "market outperform" rating on shares of AxoGen in a research note on Thursday, July 30th.

AxoGen Stock Down 0.7%

Shares of AXGN traded down $0.26 during mid-day trading on Tuesday, hitting $36.85. 270,864 shares of the company's stock were exchanged, compared to its average volume of 1,141,342. The company has a market cap of $1.98 billion, a price-to-earnings ratio of -54.08 and a beta of 1.17. AxoGen has a fifty-two week low of $15.27 and a fifty-two week high of $52.91. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.04 and a current ratio of 6.60. The stock's 50-day moving average is $45.26 and its 200-day moving average is $41.97.

AxoGen (NASDAQ:AXGN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.12. The company had revenue of $69.73 million for the quarter, compared to analyst estimates of $67.10 million. AxoGen had a negative return on equity of 8.90% and a negative net margin of 13.36%. On average, sell-side analysts anticipate that AxoGen will post -0.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Kathy Weiler sold 14,150 shares of the firm's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $45.30, for a total value of $640,995.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marc Began sold 67,500 shares of the firm's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $47.34, for a total transaction of $3,195,450.00. Following the completion of the sale, the executive vice president owned 50,135 shares of the company's stock, valued at approximately $2,373,390.90. The trade was a 57.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 98,503 shares of company stock valued at $4,656,947 in the last quarter. 2.44% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Nykredit A S acquired a new position in AxoGen in the second quarter valued at $30,000. KBC Group NV acquired a new stake in AxoGen during the first quarter worth about $41,000. Caitong International Asset Management Co. Ltd acquired a new stake in AxoGen during the fourth quarter worth about $52,000. Canada Pension Plan Investment Board acquired a new stake in AxoGen during the second quarter worth about $203,000. Finally, Tidal Investments LLC purchased a new position in shares of AxoGen in the 2nd quarter worth about $225,000. Institutional investors and hedge funds own 80.29% of the company's stock.

About AxoGen

AxoGen, Inc is a medical technology company focused on repairing and regenerating damaged peripheral nerves. The company develops and commercializes products for use by surgeons treating traumatic nerve injuries and other conditions in which nerve function has been compromised.

AxoGen's product portfolio includes Avance Nerve Graft, a processed human nerve allograft designed to bridge gaps in damaged nerves without requiring tissue to be taken from another part of the patient's body. Its offerings also include Axoguard Nerve Connector and Axoguard Nerve Protector products, which are designed to support nerve repair and protect nerves during healing, as well as other products for peripheral nerve reconstruction.

Founded in 2002, AxoGen is headquartered in Alachua, Florida.

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