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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