AxoGen (NASDAQ:AXGN) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Tuesday, BidAskClub reports.
AXGN has been the subject of a number of other reports. ValuEngine upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 target price (up from $26.00) on shares of AxoGen in a research note on Thursday, May 9th. Finally, BTIG Research reiterated a “buy” rating and set a $29.00 target price on shares of AxoGen in a research note on Friday, May 10th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $38.00.
AXGN stock opened at $22.99 on Tuesday. The company has a market capitalization of $907.30 million, a P/E ratio of -42.57 and a beta of 0.20. AxoGen has a 12-month low of $14.13 and a 12-month high of $56.85. The company has a current ratio of 8.83, a quick ratio of 8.03 and a debt-to-equity ratio of 0.02.
AxoGen (NASDAQ:AXGN) last released its quarterly earnings data on Wednesday, May 8th. The medical equipment provider reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The business had revenue of $23.30 million during the quarter, compared to the consensus estimate of $22.33 million. AxoGen had a negative net margin of 29.19% and a negative return on equity of 15.58%. The business’s revenue was up 34.7% compared to the same quarter last year. During the same period last year, the company posted ($0.11) earnings per share. As a group, analysts forecast that AxoGen will post -0.68 EPS for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Advisor Group Inc. raised its stake in AxoGen by 130.3% during the 1st quarter. Advisor Group Inc. now owns 1,368 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 774 shares during the last quarter. Quantamental Technologies LLC increased its stake in shares of AxoGen by 108.3% in the 1st quarter. Quantamental Technologies LLC now owns 1,431 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 744 shares in the last quarter. Cutler Group LP increased its stake in shares of AxoGen by 120.0% in the 1st quarter. Cutler Group LP now owns 2,200 shares of the medical equipment provider’s stock worth $46,000 after purchasing an additional 1,200 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of AxoGen in the 4th quarter worth $77,000. Finally, NumerixS Investment Technologies Inc purchased a new stake in shares of AxoGen in the 4th quarter worth $131,000. Institutional investors and hedge funds own 90.71% 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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