AxoGen (NASDAQ:AXGN) Upgraded to Sell by BidaskClub

BidaskClub upgraded shares of AxoGen (NASDAQ:AXGN) from a strong sell rating to a sell rating in a report released on Friday, BidAskClub reports.

Several other equities research analysts have also commented on the stock. JMP Securities decreased their target price on shares of AxoGen from $43.00 to $28.00 and set an outperform rating on the stock in a research report on Wednesday, August 7th. ValuEngine upgraded shares of AxoGen from a buy rating to a strong-buy rating in a research report on Thursday, August 1st. Cantor Fitzgerald decreased their target price on shares of AxoGen from $30.00 to $21.00 and set an overweight rating on the stock in a research report on Wednesday, August 7th. BTIG Research decreased their target price on shares of AxoGen to $21.00 and set a buy rating on the stock in a research report on Wednesday, August 7th. Finally, William Blair lowered shares of AxoGen from an outperform rating to a market perform rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $31.00.

Shares of AXGN opened at $15.63 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.87 and a current ratio of 8.70. The stock has a market capitalization of $601.46 million, a P/E ratio of -28.94 and a beta of 0.18. The company’s fifty day moving average is $17.80 and its two-hundred day moving average is $19.73. AxoGen has a 1 year low of $11.82 and a 1 year high of $46.25.

AxoGen (NASDAQ:AXGN) last issued its earnings results on Tuesday, August 6th. The medical equipment provider reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.09. The company had revenue of $26.70 million for the quarter, compared to analyst estimates of $26.77 million. AxoGen had a negative net margin of 26.91% and a negative return on equity of 16.73%. The business’s revenue was up 29.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.09) EPS. Sell-side analysts predict that AxoGen will post -0.72 EPS for the current year.

In other AxoGen news, Director Amy Mcbride Wendell acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average cost of $20.25 per share, for a total transaction of $101,250.00. Following the transaction, the director now directly owns 23,333 shares of the company’s stock, valued at $472,493.25. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Karen L. Zaderej acquired 75,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of $13.50 per share, for a total transaction of $1,012,500.00. Following the completion of the transaction, the chief executive officer now directly owns 593,280 shares in the company, valued at $8,009,280. The disclosure for this purchase can be found here. Insiders purchased a total of 102,535 shares of company stock worth $1,434,422 over the last quarter. Insiders own 6.77% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its position in shares of AxoGen by 5.8% in the 4th quarter. Legal & General Group Plc now owns 12,826 shares of the medical equipment provider’s stock worth $262,000 after buying an additional 702 shares in the last quarter. Stephens Inc. AR purchased a new stake in shares of AxoGen in the 1st quarter worth about $255,000. Deutsche Bank AG boosted its position in shares of AxoGen by 190.3% in the 4th quarter. Deutsche Bank AG now owns 225,476 shares of the medical equipment provider’s stock worth $4,605,000 after buying an additional 147,798 shares in the last quarter. Cutler Group LP boosted its position in shares of AxoGen by 120.0% in the 1st 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 in the last quarter. Finally, NumerixS Investment Technologies Inc boosted its position in shares of AxoGen by 62.2% in the 1st quarter. NumerixS Investment Technologies Inc now owns 11,000 shares of the medical equipment provider’s stock worth $226,000 after buying an additional 4,220 shares in the last quarter. Institutional investors and hedge funds own 87.67% of the company’s stock.

AxoGen Company Profile

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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