AxoGen (AXGN) Upgraded by BidaskClub to Buy

AxoGen (NASDAQ:AXGN) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Several other equities research analysts have also recently commented on the company. Cantor Fitzgerald set a $26.00 target price on AxoGen and gave the company a “buy” rating in a research note on Friday, January 18th. ValuEngine cut AxoGen from a “buy” rating to a “hold” rating in a research note on Wednesday, January 9th. Finally, BTIG Research assumed coverage on AxoGen in a research note on Wednesday, November 14th. They issued a “neutral” rating for the company. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. AxoGen presently has a consensus rating of “Buy” and an average target price of $42.25.

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AXGN stock opened at $21.77 on Wednesday. AxoGen has a fifty-two week low of $14.13 and a fifty-two week high of $56.85. The firm has a market cap of $771.77 million, a P/E ratio of -40.31 and a beta of 0.10.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings results on Tuesday, February 26th. The medical equipment provider reported ($0.09) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.02. AxoGen had a negative return on equity of 18.17% and a negative net margin of 25.39%. The firm had revenue of $23.40 million during the quarter, compared to analysts’ expectations of $23.40 million. During the same period last year, the firm posted ($0.07) EPS. The business’s revenue was up 37.6% on a year-over-year basis. Equities analysts anticipate that AxoGen will post -0.61 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of AxoGen by 2.8% in the 3rd quarter. BlackRock Inc. now owns 2,506,327 shares of the medical equipment provider’s stock valued at $92,358,000 after buying an additional 69,008 shares during the period. Prosight Management LP acquired a new stake in shares of AxoGen in the 3rd quarter valued at $2,828,000. HRT Financial LLC acquired a new stake in shares of AxoGen in the 3rd quarter valued at $467,000. Vanguard Group Inc. increased its stake in shares of AxoGen by 4.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,585,119 shares of the medical equipment provider’s stock valued at $58,412,000 after buying an additional 74,226 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of AxoGen by 14.0% in the 3rd quarter. Wells Fargo & Company MN now owns 880,794 shares of the medical equipment provider’s stock valued at $32,457,000 after buying an additional 108,372 shares during the period. 88.42% of the stock is owned by institutional investors.

AxoGen Company Profile

AxoGen, Inc develops and markets surgical solutions for peripheral nerve injuries. The company's surgical solutions include Avance Nerve Graft, an 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 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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