AxoGen (NASDAQ:AXGN – Get Free Report) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.
Other equities analysts have also recently issued reports about the company. Canaccord Genuity Group reissued a “buy” rating and set a $15.00 price objective on shares of AxoGen in a report on Thursday, June 20th. Raymond James assumed coverage on shares of AxoGen in a report on Monday, July 1st. They set an “outperform” rating and a $13.00 target price on the stock. Finally, JMP Securities upped their price target on shares of AxoGen from $17.00 to $20.00 and gave the company a “market outperform” rating in a research report on Friday, August 9th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $13.80.
Check Out Our Latest Research Report on AxoGen
AxoGen Stock Up 2.5 %
AxoGen (NASDAQ:AXGN – Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. AxoGen had a negative net margin of 9.53% and a negative return on equity of 17.30%. The company had revenue of $47.91 million for the quarter, compared to analysts’ expectations of $43.27 million. On average, research analysts expect that AxoGen will post -0.33 EPS for the current fiscal year.
Institutional Trading of AxoGen
A number of hedge funds have recently bought and sold shares of the company. First Light Asset Management LLC raised its stake in AxoGen by 336.6% during the 2nd quarter. First Light Asset Management LLC now owns 3,344,033 shares of the medical equipment provider’s stock valued at $24,211,000 after purchasing an additional 2,578,147 shares during the period. Assenagon Asset Management S.A. grew its position in AxoGen by 2,014.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,310,811 shares of the medical equipment provider’s stock valued at $9,490,000 after acquiring an additional 1,248,823 shares during the last quarter. Silvercrest Asset Management Group LLC increased its stake in AxoGen by 4.5% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 790,647 shares of the medical equipment provider’s stock worth $6,381,000 after buying an additional 34,399 shares during the period. Divisadero Street Capital Management LP increased its position in shares of AxoGen by 587.2% during the second quarter. Divisadero Street Capital Management LP now owns 686,994 shares of the medical equipment provider’s stock worth $4,974,000 after acquiring an additional 587,024 shares during the period. Finally, Kent Lake Capital LLC purchased a new position in AxoGen during the 1st quarter worth $1,617,000. Hedge funds and other institutional investors own 80.29% of the company’s stock.
About AxoGen
AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company’s products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral 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; 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; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.
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