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.
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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