AxoGen (NASDAQ:AXGN) Upgraded by StockNews.com to “Buy”

AxoGen (NASDAQ:AXGN) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Other equities research analysts also recently issued reports about the company. Raymond James began coverage on AxoGen in a research report on Monday, July 1st. They set an “outperform” rating and a $13.00 price target on the stock. JMP Securities increased their price target 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. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $15.00 price objective 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, the stock currently has a consensus rating of “Buy” and a consensus target price of $13.80.

AxoGen Stock Up 2.5 %

Shares of AXGN stock traded up $0.33 during trading hours on Friday, reaching $13.67. 260,191 shares of the company’s stock were exchanged, compared to its average volume of 401,818. The company has a current ratio of 3.51, a quick ratio of 2.32 and a debt-to-equity ratio of 0.70. The company has a market cap of $597.45 million, a price-to-earnings ratio of -27.34 and a beta of 1.12. AxoGen has a fifty-two week low of $3.45 and a fifty-two week high of $15.08. The stock’s 50 day moving average is $12.20 and its 200-day moving average is $8.97.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $47.91 million during the quarter, compared to analysts’ expectations of $43.27 million. Analysts predict that AxoGen will post -0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AxoGen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its stake in AxoGen by 8.6% during the 1st 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 last quarter. Price T Rowe Associates Inc. MD grew its stake 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 valued at $240,000 after acquiring an additional 2,204 shares in the last quarter. Lazard Asset Management LLC raised its holdings in AxoGen by 30.1% in the 1st quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock valued at $93,000 after acquiring an additional 2,671 shares during the last quarter. Rhumbline Advisers lifted its stake in 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 in the last quarter. Finally, Koss Olinger Consulting LLC purchased a new position in AxoGen in the 2nd quarter worth approximately $75,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

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.