AxoGen (NASDAQ:AXGN) Cut to “Hold” at Wall Street Zen

by · The Markets Daily

Wall Street Zen downgraded shares of AxoGen (NASDAQ:AXGN – Free Report) from a buy rating to a hold rating in a report issued on Saturday,Wall Street Zen reports.

Several other equities analysts have also recently weighed in on AXGN. Citigroup reaffirmed a “market outperform” rating on shares of AxoGen in a research report on Thursday, July 30th. Citizens Jmp boosted their price objective on AxoGen from $50.00 to $55.00 and gave the stock a “market outperform” rating in a report on Thursday, July 30th. HC Wainwright increased their price objective on AxoGen from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Truist Financial assumed coverage on AxoGen in a research note on Wednesday, August 26th. They issued a “buy” rating and a $60.00 price objective for the company. Finally, Raymond James Financial raised their target price on AxoGen from $48.00 to $53.00 and gave the company an “outperform” rating in a report on Friday. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.11.

Read Our Latest Report on AXGN

AxoGen Stock Performance

AXGN opened at $43.36 on Friday. The company has a current ratio of 6.60, a quick ratio of 5.04 and a debt-to-equity ratio of 0.07. The company’s fifty day moving average price is $45.88 and its two-hundred day moving average price is $41.53. AxoGen has a 1-year low of $15.27 and a 1-year high of $52.91. The company has a market cap of $2.33 billion, a price-to-earnings ratio of -63.76 and a beta of 1.16.

AxoGen (NASDAQ:AXGN – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. The firm had revenue of $69.73 million for the quarter, compared to analyst estimates of $67.10 million. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. On average, analysts expect that AxoGen will post -0.45 EPS for the current fiscal year.

Insider Activity

In other AxoGen news, Director Amy Wendell sold 13,353 shares of AxoGen stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $48.42, for a total transaction of $646,552.26. Following the transaction, the director owned 107,976 shares of the company’s stock, valued at $5,228,197.92. This trade represents a 11.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marc A. Began sold 67,500 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $47.34, for a total value of $3,195,450.00. Following the completion of the transaction, the executive vice president owned 50,135 shares in the company, valued at $2,373,390.90. The trade was a 57.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 98,503 shares of company stock valued at $4,656,947 in the last three months. 2.44% of the stock is owned by company insiders.

Institutional Trading of AxoGen

A number of institutional investors and hedge funds have recently modified their holdings of AXGN. Sequoia Financial Advisors LLC bought a new stake in AxoGen during the second quarter worth $272,000. Tidal Investments LLC bought a new position in AxoGen in the 2nd quarter valued at $225,000. Arizona State Retirement System grew its stake in AxoGen by 7.6% in the 2nd quarter. Arizona State Retirement System now owns 13,604 shares of the medical equipment provider’s stock valued at $628,000 after purchasing an additional 966 shares during the period. Nykredit A S bought a new position in AxoGen in the 2nd quarter valued at $30,000. Finally, Corient Private Wealth LP purchased a new stake in shares of AxoGen during the 2nd quarter valued at $418,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

About AxoGen

(Get Free Report)

AxoGen, Inc (NASDAQ: AXGN) is a medical technology company focused on the repair and regeneration of damaged peripheral nerves. The company develops and markets biologic and surgical products intended to help restore sensory and motor function following traumatic nerve injuries or surgical procedures.

Its product portfolio includes Avance Nerve Graft, a processed human nerve allograft used to bridge gaps in damaged nerves; Axoguard Nerve Connector, designed to protect and support the repair of smaller nerve injuries; and Axoguard Nerve Protector, a collagen-based product intended to help protect repaired nerves and reduce the effects of scar tissue.

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