Cantor Fitzgerald Comments on AxoGen, Inc’s FY2019 Earnings (NASDAQ:AXGN)

AxoGen, Inc (NASDAQ:AXGN) – Equities research analysts at Cantor Fitzgerald increased their FY2019 EPS estimates for AxoGen in a report released on Thursday, November 7th. Cantor Fitzgerald analyst C. Bijou now expects that the medical equipment provider will post earnings of ($0.71) per share for the year, up from their prior forecast of ($0.76). Cantor Fitzgerald has a “Overweight” rating and a $19.00 price objective on the stock. Cantor Fitzgerald also issued estimates for AxoGen’s FY2020 earnings at ($0.57) EPS.

Other analysts have also recently issued research reports about the stock. William Blair cut shares of AxoGen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 7th. 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 note 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 note on Wednesday, August 7th. Canaccord Genuity decreased their target price on shares of AxoGen from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Finally, ValuEngine raised shares of AxoGen from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $23.25.

NASDAQ:AXGN traded down $0.21 during mid-day trading on Monday, reaching $15.20. The stock had a trading volume of 8,103 shares, compared to its average volume of 550,855. The stock has a 50-day simple moving average of $12.63 and a two-hundred day simple moving average of $17.32. The stock has a market capitalization of $601.90 million, a PE ratio of -28.15 and a beta of 0.14. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.20 and a quick ratio of 7.38. AxoGen has a 12 month low of $10.91 and a 12 month high of $35.11.

Several large investors have recently modified their holdings of the company. BlackRock Inc. grew its position in AxoGen by 8.5% during the second quarter. BlackRock Inc. now owns 2,674,036 shares of the medical equipment provider’s stock valued at $52,947,000 after buying an additional 208,805 shares during the period. Vanguard Group Inc. grew its holdings in AxoGen by 5.6% during the second quarter. Vanguard Group Inc. now owns 1,768,572 shares of the medical equipment provider’s stock worth $35,018,000 after acquiring an additional 93,873 shares during the period. Bank of New York Mellon Corp grew its holdings in AxoGen by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 1,104,983 shares of the medical equipment provider’s stock worth $21,878,000 after acquiring an additional 27,616 shares during the period. Bank of America Corp DE grew its holdings in AxoGen by 25.8% during the second quarter. Bank of America Corp DE now owns 763,705 shares of the medical equipment provider’s stock worth $15,122,000 after acquiring an additional 156,476 shares during the period. Finally, Peregrine Capital Management LLC grew its holdings in AxoGen by 1.6% during the third quarter. Peregrine Capital Management LLC now owns 640,361 shares of the medical equipment provider’s stock worth $7,992,000 after acquiring an additional 10,164 shares during the period. Institutional investors own 81.45% of the company’s stock.

About AxoGen

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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Earnings History and Estimates for AxoGen (NASDAQ:AXGN)

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