Lake Street Capital Boosts AxoGen (NASDAQ:AXGN) Price Target to $50.00

Key Points

• Lake Street Capital raised its price target on AxoGen to $50 (from $40) and kept a "buy" rating, implying roughly a 34% upside from the current price.
• Analyst sentiment is largely positive with 9 Buy ratings and 1 Sell and a consensus target of $41, while the stock recently traded around $37.28 (up 0.8%) and has a one‑year high near $39.99.
• AxoGen slightly missed quarterly EPS by $0.01 and continues to show unprofitable metrics (negative net margin and ROE, negative PE) despite a market cap of about $1.93 billion.

AxoGen (NASDAQ:AXGN - Get Free Report) had its price target lifted by equities researchers at Lake Street Capital from $40.00 to $50.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the medical equipment provider's stock. Lake Street Capital's target price points to a potential upside of 34.12% from the stock's current price.

AXGN has been the topic of several other reports. Raymond James Financial reaffirmed an "outperform" rating and set a $41.00 price objective on shares of AxoGen in a research report on Monday, February 23rd. Citigroup reissued an "outperform" rating on shares of AxoGen in a research report on Tuesday, February 24th. Citizens Jmp boosted their price target on AxoGen from $34.00 to $42.00 and gave the stock a "market outperform" rating in a research report on Tuesday, February 24th. Canaccord Genuity Group reissued a "buy" rating and issued a $40.00 price target on shares of AxoGen in a research report on Monday, March 30th. Finally, Wall Street Zen cut AxoGen from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 28th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, AxoGen has an average rating of "Moderate Buy" and a consensus target price of $41.00.

AxoGen Stock Up 0.8%

AxoGen stock traded up $0.28 during trading hours on Thursday, hitting $37.28. 530,273 shares of the stock traded hands, compared to its average volume of 1,014,950. The firm's 50-day moving average price is $32.87 and its two-hundred day moving average price is $29.47. The company has a current ratio of 5.11, a quick ratio of 3.31 and a debt-to-equity ratio of 0.51. The company has a market cap of $1.93 billion, a PE ratio of -109.54 and a beta of 0.98. AxoGen has a one year low of $9.22 and a one year high of $39.99.

AxoGen (NASDAQ:AXGN - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). The firm had revenue of $59.90 million for the quarter, compared to the consensus estimate of $59.90 million. AxoGen had a negative net margin of 6.97% and a negative return on equity of 13.44%. On average, research analysts forecast that AxoGen will post -0.24 EPS for the current year.

Insider Transactions at AxoGen

In related news, insider Erick Wayne Devinney sold 5,221 shares of the company's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $32.84, for a total value of $171,457.64. Following the transaction, the insider directly owned 262,781 shares of the company's stock, valued at approximately $8,629,728.04. This represents a 1.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.78% of the company's stock.

Hedge Funds Weigh In On AxoGen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AXGN. MCF Advisors LLC bought a new position in AxoGen in the 4th quarter valued at approximately $30,000. Aquatic Capital Management LLC boosted its stake in shares of AxoGen by 287.8% in the 3rd quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider's stock worth $31,000 after buying an additional 1,269 shares during the last quarter. Arax Advisory Partners grew its holdings in shares of AxoGen by 362.4% in the fourth quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider's stock worth $34,000 after acquiring an additional 819 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of AxoGen in the fourth quarter worth $36,000. Finally, Kestra Advisory Services LLC purchased a new stake in AxoGen during the fourth quarter valued at $39,000. 80.29% of the stock is owned by institutional investors.

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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