AxoGen (NASDAQ:AXGN) Trading Down 11.2% - Here's Why

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) shares fell 11.2% during mid-day trading on Thursday . The company traded as low as $11.51 and last traded at $13.61. 207,541 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 398,912 shares. The stock had previously closed at $15.33.

Analysts Set New Price Targets

AXGN has been the topic of several recent analyst reports. JMP Securities increased their target price on shares of AxoGen from $17.00 to $20.00 and gave the company a "market outperform" rating in a research note on Friday, August 9th. StockNews.com raised shares of AxoGen from a "hold" rating to a "buy" rating in a research note on Tuesday, October 15th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AxoGen has an average rating of "Buy" and a consensus target price of $15.00.

AxoGen Stock Down 17.2 %

The company has a market cap of $556.20 million, a PE ratio of -31.87 and a beta of 1.13. The company has a current ratio of 3.51, a quick ratio of 2.32 and a debt-to-equity ratio of 0.70. The company's 50 day moving average is $13.81 and its 200 day moving average is $10.05.

AxoGen (NASDAQ:AXGN - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.10. AxoGen had a negative net margin of 9.53% and a negative return on equity of 17.30%. The firm had revenue of $47.91 million during the quarter, compared to the consensus estimate of $43.27 million. As a group, analysts predict that AxoGen, Inc. will post -0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AxoGen

Several hedge funds have recently made changes to their positions in AXGN. nVerses Capital LLC bought a new stake in shares of AxoGen in the third quarter valued at about $56,000. Koss Olinger Consulting LLC bought a new stake in shares of AxoGen in the 2nd quarter valued at about $75,000. Lazard Asset Management LLC lifted its position in shares of AxoGen by 30.1% in the 1st quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider's stock worth $93,000 after purchasing an additional 2,671 shares during the period. Acadian Asset Management LLC purchased a new position in AxoGen during the second quarter valued at approximately $125,000. Finally, Oppenheimer & Co. Inc. bought a new stake in AxoGen during the third quarter valued at about $156,000. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

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.

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