AxoGen (NASDAQ:AXGN) Stock Price Up 6.4%

AxoGen, Inc (NASDAQ:AXGN) shares rose 6.4% during trading on Wednesday . The company traded as high as $19.97 and last traded at $19.68. Approximately 641,959 shares traded hands during mid-day trading, an increase of 6% from the average daily volume of 607,771 shares. The stock had previously closed at $18.50.

AXGN has been the topic of a number of recent analyst reports. BTIG Research reaffirmed a “buy” rating and issued a $29.00 target price on shares of AxoGen in a research report on Friday, May 10th. BidaskClub raised shares of AxoGen from a “hold” rating to a “buy” rating in a research report on Wednesday, March 6th. ValuEngine raised shares of AxoGen from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Finally, Cantor Fitzgerald set a $26.00 target price on shares of AxoGen and gave the company a “buy” rating in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. AxoGen presently has an average rating of “Buy” and an average price target of $38.00.

The stock has a market capitalization of $747.26 million, a PE ratio of -36.44 and a beta of 0.36. The company has a current ratio of 8.83, a quick ratio of 8.03 and a debt-to-equity ratio of 0.02.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings results on Wednesday, May 8th. The medical equipment provider reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.01). The business had revenue of $23.30 million for the quarter, compared to analyst estimates of $22.33 million. AxoGen had a negative return on equity of 15.58% and a negative net margin of 29.19%. The firm’s revenue for the quarter was up 34.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.11) EPS. Research analysts anticipate that AxoGen, Inc will post -0.74 earnings per share for the current fiscal year.

In other news, VP David K. Hansen sold 20,000 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $22.63, for a total transaction of $452,600.00. Following the sale, the vice president now owns 25,588 shares of the company’s stock, valued at $579,056.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.86% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Advisor Group Inc. lifted its position in shares of AxoGen by 130.3% during the first quarter. Advisor Group Inc. now owns 1,368 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 774 shares in the last quarter. Quantamental Technologies LLC increased its stake in shares of AxoGen by 108.3% during the first quarter. Quantamental Technologies LLC now owns 1,431 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 744 shares during the period. Cutler Group LP increased its stake in shares of AxoGen by 120.0% during the first quarter. Cutler Group LP now owns 2,200 shares of the medical equipment provider’s stock worth $46,000 after buying an additional 1,200 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of AxoGen during the fourth quarter worth approximately $77,000. Finally, NumerixS Investment Technologies Inc purchased a new stake in shares of AxoGen during the fourth quarter worth approximately $131,000. 87.40% of the stock is currently owned by institutional investors and hedge funds.

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About AxoGen (NASDAQ:AXGN)

AxoGen, Inc develops and markets surgical solutions for peripheral nerve injuries. The company's surgical solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed 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 nerves; and 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.

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