AxoGen, Inc. (NASDAQ:AXGN) Sees Large Growth in Short Interest

AxoGen, Inc. (NASDAQ:AXGN) saw a large growth in short interest in August. As of August 31st, there was short interest totalling 1,980,000 shares, a growth of 10.0% from the August 15th total of 1,800,000 shares. Based on an average daily volume of 433,000 shares, the short-interest ratio is currently 4.6 days.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AXGN. JMP Securities lifted their price objective on shares of AxoGen from $17.00 to $20.00 and gave the company a “market outperform” rating in a report on Friday, August 9th. StockNews.com upgraded AxoGen from a “hold” rating to a “buy” rating in a research report on Tuesday. Raymond James started coverage on AxoGen in a research note on Monday, July 1st. They set an “outperform” rating and a $13.00 price target for the company. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $15.00 target price 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 stock has a consensus rating of “Buy” and a consensus target price of $13.80.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AXGN. Koss Olinger Consulting LLC purchased a new position in shares of AxoGen in the 2nd quarter valued at $75,000. Lazard Asset Management LLC increased its holdings in shares of AxoGen by 30.1% in the first quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock valued at $93,000 after purchasing an additional 2,671 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of AxoGen during the 2nd quarter worth about $125,000. BNP Paribas Financial Markets lifted 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted 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 last quarter. Hedge funds and other institutional investors own 80.29% of the company’s stock.

AxoGen Price Performance

AXGN stock traded down $0.01 during midday trading on Wednesday, reaching $14.68. The company had a trading volume of 78,289 shares, compared to its average volume of 398,484. The stock has a 50 day moving average price of $10.96 and a 200-day moving average price of $8.51. The company has a market capitalization of $641.59 million, a price-to-earnings ratio of -29.38 and a beta of 1.12. AxoGen has a 1-year low of $3.45 and a 1-year high of $14.88. 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 issued its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) EPS for the quarter, topping 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 return on equity of 17.30% and a negative net margin of 9.53%. Equities research analysts expect that AxoGen will post -0.33 earnings per share for the current year.

AxoGen Company Profile

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.