AxoGen, Inc. (NASDAQ:AXGN)‘s stock had its “buy” rating reissued by analysts at Roth Capital in a research report issued to clients and investors on Tuesday. They presently have a $21.00 price objective on the medical equipment provider’s stock, up from their previous price objective of $18.00. Roth Capital’s price target would suggest a potential upside of 15.07% from the stock’s current price.
Several other equities research analysts have also commented on AXGN. Wedbush reissued an “outperform” rating and issued a $14.00 price target (down previously from $17.00) on shares of AxoGen in a report on Friday, May 19th. ValuEngine raised shares of AxoGen from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Cantor Fitzgerald started coverage on shares of AxoGen in a report on Thursday, June 29th. They issued an “overweight” rating and a $18.00 price target for the company. BidaskClub lowered shares of AxoGen from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Finally, Leerink Swann started coverage on shares of AxoGen in a report on Monday, July 31st. They issued an “outperform” rating and a $22.00 price target for the company. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $17.20.
AxoGen (NASDAQ AXGN) opened at 18.25 on Tuesday. AxoGen has a 1-year low of $7.65 and a 1-year high of $18.50. The company’s 50-day moving average is $16.09 and its 200 day moving average is $13.80. The stock’s market capitalization is $606.63 million.
AxoGen (NASDAQ:AXGN) last issued its quarterly earnings results on Wednesday, August 2nd. The medical equipment provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. The company had revenue of $15.20 million during the quarter, compared to analyst estimates of $14.40 million. AxoGen had a negative net margin of 27.50% and a negative return on equity of 114.64%. The firm’s revenue was up 46.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.09) EPS. Equities analysts predict that AxoGen will post ($0.31) earnings per share for the current year.
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Several institutional investors have recently added to or reduced their stakes in AXGN. Russell Investments Group Ltd. grew its holdings in shares of AxoGen by 238.7% during the second quarter. Russell Investments Group Ltd. now owns 611,678 shares of the medical equipment provider’s stock worth $10,245,000 after buying an additional 431,057 shares in the last quarter. Castleark Management LLC purchased a new stake in shares of AxoGen during the second quarter worth $5,426,000. Lyon Street Capital LLC purchased a new stake in shares of AxoGen during the first quarter worth $2,166,000. Renaissance Technologies LLC purchased a new stake in shares of AxoGen during the first quarter worth $1,473,000. Finally, EAM Investors LLC grew its holdings in shares of AxoGen by 86.7% during the second quarter. EAM Investors LLC now owns 293,880 shares of the medical equipment provider’s stock worth $4,922,000 after buying an additional 136,453 shares in the last quarter. 66.77% of the stock is owned by institutional investors and hedge funds.
AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The companys surgical nerve repair 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 injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
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