Shares of AxoGen, Inc. (NASDAQ:AXGN) reached a new 52-week high on Tuesday after Leerink Swann raised their price target on the stock from $26.00 to $30.00. Leerink Swann currently has an outperform rating on the stock. AxoGen traded as high as $26.01 and last traded at $24.30, with a volume of 322000 shares changing hands. The stock had previously closed at $23.60.
AXGN has been the subject of several other reports. BidaskClub downgraded AxoGen from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Cantor Fitzgerald reaffirmed a “buy” rating and set a $18.00 price objective on shares of AxoGen in a research note on Monday, August 21st. Wedbush reaffirmed a “buy” rating and set a $27.00 price objective (up from $22.00) on shares of AxoGen in a research note on Tuesday. Roth Capital reaffirmed a “buy” rating and set a $21.00 price objective (up from $18.00) on shares of AxoGen in a research note on Tuesday, September 12th. Finally, Lake Street Capital upped their price objective on AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $24.40.
In other AxoGen news, Director Guido J. Neels sold 1,150,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $19.74, for a total transaction of $22,701,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert James Rudelius sold 16,143 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $18.00, for a total value of $290,574.00. Following the transaction, the director now owns 43,273 shares in the company, valued at approximately $778,914. The disclosure for this sale can be found here. 9.33% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in AxoGen by 9.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,223,069 shares of the medical equipment provider’s stock worth $20,486,000 after purchasing an additional 101,245 shares during the period. Bank of New York Mellon Corp increased its position in AxoGen by 293.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 631,563 shares of the medical equipment provider’s stock worth $12,222,000 after purchasing an additional 471,209 shares during the period. Russell Investments Group Ltd. increased its position in AxoGen by 238.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 611,678 shares of the medical equipment provider’s stock worth $10,245,000 after purchasing an additional 431,057 shares during the period. Gilder Gagnon Howe & Co. LLC increased its position in AxoGen by 1.5% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 568,124 shares of the medical equipment provider’s stock worth $9,516,000 after purchasing an additional 8,608 shares during the period. Finally, State Street Corp increased its position in AxoGen by 19.6% during the 2nd quarter. State Street Corp now owns 438,641 shares of the medical equipment provider’s stock worth $7,350,000 after purchasing an additional 71,752 shares during the period. Institutional investors own 67.89% of the company’s stock.
The company has a quick ratio of 2.95, a current ratio of 3.55 and a debt-to-equity ratio of 1.93.
AxoGen (NASDAQ:AXGN) last released its earnings results on Wednesday, November 1st. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.06). AxoGen had a negative return on equity of 91.00% and a negative net margin of 24.74%. The company had revenue of $16.05 million for the quarter, compared to analysts’ expectations of $15.55 million. The business’s revenue was up 43.2% compared to the same quarter last year. equities analysts expect that AxoGen, Inc. will post -0.33 EPS for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: “AxoGen, Inc. (AXGN) Hits New 1-Year High on Analyst Upgrade” was first posted by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The legal version of this piece of content can be viewed at https://sportsperspectives.com/2017/11/23/axogen-inc-axgn-hits-new-1-year-high-on-analyst-upgrade.html.
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.
Receive News & Ratings for AxoGen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AxoGen Inc. and related companies with MarketBeat.com's FREE daily email newsletter.