Acadian Asset Management LLC Makes New Investment in AxoGen, Inc. (NASDAQ:AXGN)

Acadian Asset Management LLC bought a new stake in shares of AxoGen, Inc. (NASDAQ:AXGN) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 17,414 shares of the medical equipment provider’s stock, valued at approximately $125,000.

Other hedge funds have also recently made changes to their positions in the company. Lazard Asset Management LLC increased its position in AxoGen by 30.1% during the 1st quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock valued at $93,000 after buying an additional 2,671 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of AxoGen by 8.6% in the first quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider’s stock worth $168,000 after acquiring an additional 1,651 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of AxoGen by 8.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,650 shares of the medical equipment provider’s stock worth $240,000 after acquiring an additional 2,204 shares during the last quarter. Roubaix Capital LLC bought a new position in shares of AxoGen during the first quarter valued at $351,000. Finally, Rhumbline Advisers raised its position in shares of AxoGen by 6.2% in the 2nd quarter. Rhumbline Advisers now owns 58,157 shares of the medical equipment provider’s stock worth $421,000 after purchasing an additional 3,380 shares during the last quarter. 80.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on AXGN shares. StockNews.com raised shares of AxoGen from a “hold” rating to a “buy” rating in a research report on Tuesday. Raymond James initiated coverage on shares of AxoGen in a research report on Monday, July 1st. They set an “outperform” rating and a $13.00 price target for the company. JMP Securities increased their target price on AxoGen from $17.00 to $20.00 and gave the company a “market outperform” rating in a research note on Friday, August 9th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $15.00 target price on shares of AxoGen in a report on Thursday, June 20th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $13.80.

AxoGen Trading Down 4.0 %

Shares of AxoGen stock opened at $14.08 on Friday. AxoGen, Inc. has a 1-year low of $3.45 and a 1-year high of $15.08. The company’s fifty day simple moving average is $11.22 and its 200-day simple moving average is $8.60. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.51 and a quick ratio of 2.32. The stock has a market capitalization of $615.37 million, a PE ratio of -28.16 and a beta of 1.12.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.10. AxoGen had a negative return on equity of 17.30% and a negative net margin of 9.53%. The business had revenue of $47.91 million during the quarter, compared to analyst estimates of $43.27 million. As a group, equities analysts anticipate that AxoGen, Inc. will post -0.33 earnings per share for the current year.

About AxoGen

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company’s products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral 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 peripheral nerves; 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; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.