Leerink Swann Reaffirms Outperform Rating for AxoGen (AXGN)

AxoGen (NASDAQ:AXGN)‘s stock had its “outperform” rating reiterated by investment analysts at Leerink Swann in a research report issued on Tuesday, The Fly reports. They currently have a $55.00 price objective on the medical equipment provider’s stock. Leerink Swann’s price target would suggest a potential upside of 47.49% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. BidaskClub cut AxoGen from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 12th. Cantor Fitzgerald reissued a “buy” rating and issued a $45.00 target price on shares of AxoGen in a research note on Thursday, August 9th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. AxoGen has an average rating of “Buy” and a consensus target price of $41.83.

NASDAQ AXGN opened at $37.29 on Tuesday. AxoGen has a 52 week low of $20.17 and a 52 week high of $56.85.

AxoGen (NASDAQ:AXGN) last released its earnings results on Monday, October 29th. The medical equipment provider reported ($0.05) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). The company had revenue of $22.66 million during the quarter, compared to analysts’ expectations of $22.52 million. AxoGen had a negative return on equity of 18.17% and a negative net margin of 25.39%. The business’s revenue for the quarter was up 41.2% on a year-over-year basis. During the same period last year, the firm earned ($0.04) EPS. Sell-side analysts predict that AxoGen will post -0.61 EPS for the current fiscal year.

In other news, Director Amy Mcbride Wendell bought 5,000 shares of the stock in a transaction dated Tuesday, August 14th. The stock was bought at an average cost of $36.89 per share, with a total value of $184,450.00. Following the purchase, the director now owns 18,333 shares of the company’s stock, valued at $676,304.37. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 7.86% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of AXGN. Meeder Asset Management Inc. boosted its position in shares of AxoGen by 844.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 2,427 shares of the medical equipment provider’s stock worth $122,000 after purchasing an additional 2,170 shares during the last quarter. Mckinley Capital Management LLC Delaware bought a new position in shares of AxoGen in the 2nd quarter worth $156,000. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of AxoGen by 41.6% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,575 shares of the medical equipment provider’s stock worth $167,000 after purchasing an additional 1,345 shares during the last quarter. Bank of Montreal Can bought a new position in shares of AxoGen in the 2nd quarter worth $180,000. Finally, Jane Street Group LLC bought a new position in shares of AxoGen in the 2nd quarter worth $201,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

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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Analyst Recommendations for AxoGen (NASDAQ:AXGN)

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