StockNews.com upgraded shares of AxoGen (NASDAQ:AXGN – Free Report) from a hold rating to a buy rating in a research report report published on Tuesday morning.
AXGN has been the topic of several other research reports. JMP Securities boosted their price objective on shares of AxoGen from $17.00 to $20.00 and gave the stock a “market outperform” rating in a report on Friday, August 9th. Canaccord Genuity Group restated a “buy” rating and set a $15.00 price target on shares of AxoGen in a research note on Thursday, June 20th. Finally, Raymond James initiated coverage on AxoGen in a report on Monday, July 1st. They issued an “outperform” rating and a $13.00 price target for the company. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $15.00.
Check Out Our Latest Research Report on AXGN
AxoGen Stock Down 8.4 %
AxoGen (NASDAQ:AXGN – Get Free Report) last released its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. AxoGen had a negative return on equity of 17.30% and a negative net margin of 9.53%. The firm had revenue of $47.91 million for the quarter, compared to analyst estimates of $43.27 million. Research analysts forecast that AxoGen will post -0.33 EPS for the current year.
Institutional Trading of AxoGen
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AXGN. nVerses Capital LLC bought a new position in AxoGen during the third quarter worth about $56,000. Koss Olinger Consulting LLC bought a new position in shares of AxoGen during the 2nd quarter worth approximately $75,000. Lazard Asset Management LLC boosted its stake in AxoGen by 30.1% in the 1st quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock valued at $93,000 after buying an additional 2,671 shares in the last quarter. Acadian Asset Management LLC bought a new stake in AxoGen in the second quarter valued at $125,000. Finally, BNP Paribas Financial Markets grew its position in AxoGen by 8.6% in the first quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider’s stock valued at $168,000 after acquiring an additional 1,651 shares during the period. 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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