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Canaccord Genuity Raises AxoGen (NASDAQ:AXGN) Price Target to $21.00

Tuesday, February 23, 2021 | MarketBeat

AxoGen (NASDAQ:AXGN) had its target price upped by investment analysts at Canaccord Genuity from $20.00 to $21.00 in a report issued on Tuesday, Analyst Price Targets reports. The brokerage presently has a "hold" rating on the medical equipment provider's stock. Canaccord Genuity's target price would suggest a potential downside of 3.63% from the company's previous close.

A number of other research analysts also recently commented on the company. Cantor Fitzgerald increased their price objective on AxoGen from $16.00 to $23.00 and gave the company an "overweight" rating in a report on Tuesday, January 12th. SVB Leerink increased their price objective on AxoGen from $23.00 to $27.00 and gave the company an "outperform" rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. AxoGen currently has a consensus rating of "Buy" and an average price target of $23.75.

AXGN traded up $0.60 during mid-day trading on Tuesday, hitting $21.79. 24,665 shares of the stock were exchanged, compared to its average volume of 249,087. The firm's fifty day moving average is $19.02 and its two-hundred day moving average is $14.98. AxoGen has a 1-year low of $7.16 and a 1-year high of $21.76. The company has a current ratio of 7.45, a quick ratio of 6.81 and a debt-to-equity ratio of 0.42. The company has a market cap of $885.09 million, a PE ratio of -35.14 and a beta of 0.71.

AxoGen (NASDAQ:AXGN) last posted its earnings results on Sunday, February 21st. The medical equipment provider reported ($0.08) earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of ($0.16) by $0.08. AxoGen had a negative return on equity of 19.83% and a negative net margin of 22.98%. As a group, research analysts anticipate that AxoGen will post -0.61 earnings per share for the current year.

In related news, CEO Karen L. Zaderej sold 65,000 shares of the firm's stock in a transaction that occurred on Friday, January 8th. The stock was sold at an average price of $20.00, for a total transaction of $1,300,000.00. Following the transaction, the chief executive officer now owns 609,099 shares in the company, valued at approximately $12,181,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 72,932 shares of company stock worth $1,439,869 in the last 90 days. 6.94% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in AXGN. NEXT Financial Group Inc purchased a new position in AxoGen during the 4th quarter worth approximately $29,000. Thompson Siegel & Walmsley LLC acquired a new stake in AxoGen during the 4th quarter worth approximately $50,000. Lazard Asset Management LLC lifted its position in AxoGen by 238.1% during the 4th quarter. Lazard Asset Management LLC now owns 3,090 shares of the medical equipment provider's stock worth $55,000 after acquiring an additional 2,176 shares during the period. BNP Paribas Arbitrage SA lifted its position in AxoGen by 522.3% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,364 shares of the medical equipment provider's stock worth $97,000 after acquiring an additional 7,020 shares during the period. Finally, Citigroup Inc. lifted its position in AxoGen by 303.3% during the 4th quarter. Citigroup Inc. now owns 8,563 shares of the medical equipment provider's stock worth $153,000 after acquiring an additional 6,440 shares during the period. Hedge funds and other institutional investors own 78.38% of the company's stock.

AxoGen Company Profile

AxoGen, Inc, together with its subsidiaries, provides surgical solutions for physical damage or transection to peripheral nerves. The company's products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed peripheral nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.

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Analyst Recommendations for AxoGen (NASDAQ:AXGN)


7 Stocks to Buy As Americans Receive Stimulus Checks

Millions of Americans will be receiving $600 as part of the stimulus bill that President Trump signed on December 27, 2020. Many already have. At this time, it’s still an open question as to whether that amount will be increased to $2,000, but for now Americans know what they’ll be getting (and may have already received).

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