AxoGen, Inc (NASDAQ:AXGN) shares hit a new 52-week high and low during trading on Thursday . The company traded as low as $41.00 and last traded at $39.80, with a volume of 77176 shares trading hands. The stock had previously closed at $40.65.
A number of brokerages have commented on AXGN. William Blair began coverage on AxoGen in a research note on Monday, February 5th. They issued an “outperform” rating on the stock. Jefferies Group boosted their target price on AxoGen to $45.00 and gave the company a “buy” rating in a research note on Monday, March 19th. JMP Securities boosted their target price on AxoGen from $27.00 to $34.00 and gave the company a “market outperform” rating in a research note on Thursday, March 1st. Cantor Fitzgerald restated an “overweight” rating on shares of AxoGen in a research note on Friday, January 5th. Finally, Lake Street Capital set a $38.00 target price on AxoGen and gave the company a “buy” rating in a research note on Friday, March 2nd. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $33.14.
The company has a market capitalization of $1,372.04, a PE ratio of -129.84 and a beta of 0.01. The company has a quick ratio of 3.53, a current ratio of 4.07 and a debt-to-equity ratio of 0.79.
AxoGen (NASDAQ:AXGN) last released its quarterly earnings results on Wednesday, February 28th. The medical equipment provider reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.02. The company had revenue of $16.97 million during the quarter, compared to the consensus estimate of $16.38 million. AxoGen had a negative return on equity of 70.63% and a negative net margin of 17.29%. The firm’s revenue was up 48.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.10) EPS. equities analysts expect that AxoGen, Inc will post -0.3 earnings per share for the current year.
In other news, CFO Jamie Mark Grooms sold 10,300 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $26.21, for a total transaction of $269,963.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 169,407 shares of company stock valued at $4,593,013. 7.86% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AXGN. Paloma Partners Management Co bought a new stake in shares of AxoGen during the 4th quarter worth about $215,000. Guggenheim Capital LLC bought a new stake in shares of AxoGen during the 4th quarter worth about $228,000. Gotham Asset Management LLC bought a new stake in shares of AxoGen during the 4th quarter worth about $249,000. OxFORD Asset Management LLP bought a new stake in shares of AxoGen during the 3rd quarter worth about $270,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of AxoGen during the 4th quarter worth about $271,000. Institutional investors own 67.78% of the company’s stock.
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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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