AxoGen, Inc. (NASDAQ:AXGN – Get Free Report) was the recipient of a significant decline in short interest in September. As of September 15th, there was short interest totalling 1,630,000 shares, a decline of 17.7% from the August 31st total of 1,980,000 shares. Based on an average daily volume of 446,700 shares, the days-to-cover ratio is presently 3.6 days.
AxoGen Stock Performance
AXGN stock traded down $0.01 during midday trading on Friday, hitting $13.79. 265,409 shares of the company traded hands, compared to its average volume of 402,983. AxoGen has a twelve month low of $3.45 and a twelve month high of $15.08. The stock has a market capitalization of $602.69 million, a price-to-earnings ratio of -27.58 and a beta of 1.12. The company has a quick ratio of 2.32, a current ratio of 3.51 and a debt-to-equity ratio of 0.70. The business has a 50 day simple moving average of $11.83 and a 200-day simple moving average of $8.80.
AxoGen (NASDAQ:AXGN – Get Free Report) last posted its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. The business had revenue of $47.91 million for the quarter, compared to analyst estimates of $43.27 million. AxoGen had a negative net margin of 9.53% and a negative return on equity of 17.30%. As a group, equities research analysts predict that AxoGen will post -0.33 earnings per share for the current year.
Hedge Funds Weigh In On AxoGen
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on AXGN. Canaccord Genuity Group reiterated a “buy” rating and set a $15.00 price target on shares of AxoGen in a report on Thursday, June 20th. JMP Securities lifted their target price on shares of AxoGen from $17.00 to $20.00 and gave the company a “market outperform” rating in a research note on Friday, August 9th. Raymond James initiated coverage on shares of AxoGen in a research note on Monday, July 1st. They set an “outperform” rating and a $13.00 price target on the stock. Finally, StockNews.com upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a report on Wednesday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $13.80.
Check Out Our Latest Research Report on AxoGen
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.
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