AxoGen (NASDAQ:AXGN) Shares Down 5.9%

AxoGen, Inc. (NASDAQ:AXGN)’s share price dropped 5.9% on Thursday . The stock traded as low as $13.31 and last traded at $13.31. Approximately 97,282 shares traded hands during trading, a decline of 76% from the average daily volume of 401,790 shares. The stock had previously closed at $14.14.

Wall Street Analyst Weigh In

AXGN has been the subject of a number of analyst reports. Raymond James assumed coverage on 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 upped their price objective on shares of AxoGen from $17.00 to $20.00 and gave the stock a “market outperform” rating in a report on Friday, August 9th. StockNews.com upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a research report on Wednesday, September 25th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $15.00 price target on shares of AxoGen in a research report on Thursday, June 20th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $13.80.

AxoGen Stock Performance

The company has a fifty day moving average price of $12.12 and a two-hundred day moving average price of $8.94. The firm has a market cap of $583.02 million, a price-to-earnings ratio of -27.50 and a beta of 1.12. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.51 and a quick ratio of 2.32.

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

Institutional Investors Weigh In On AxoGen

Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its position in shares of AxoGen by 8.6% during the first quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider’s stock worth $168,000 after purchasing an additional 1,651 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in AxoGen by 8.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,650 shares of the medical equipment provider’s stock worth $240,000 after buying an additional 2,204 shares during the period. Lazard Asset Management LLC lifted its stake in AxoGen by 30.1% during the first 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. Rhumbline Advisers boosted its holdings in shares of AxoGen by 6.2% in the second quarter. Rhumbline Advisers now owns 58,157 shares of the medical equipment provider’s stock worth $421,000 after buying an additional 3,380 shares during the period. Finally, Koss Olinger Consulting LLC purchased a new position in shares of AxoGen in the second quarter worth approximately $75,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

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.