AxoGen (NASDAQ:AXGN) Trading Down 5.9%

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report)'s share price dropped 5.9% on Thursday . The stock traded as low as $13.31 and last traded at $13.31. Approximately 97,282 shares changed hands during trading, a decline of 76% from the average daily volume of 401,790 shares. The stock had previously closed at $14.14.

Wall Street Analyst Weigh In

Several research firms recently commented on AXGN. Canaccord Genuity Group reiterated a "buy" rating and issued a $15.00 price target on shares of AxoGen in a research note on Thursday, June 20th. JMP Securities upped their target price on AxoGen from $17.00 to $20.00 and gave the company a "market outperform" rating in a research report on Friday, August 9th. StockNews.com raised shares of AxoGen from a "hold" rating to a "buy" rating in a research report on Wednesday, September 25th. Finally, Raymond James initiated coverage on shares of AxoGen in a report on Monday, July 1st. They issued an "outperform" rating and a $13.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $13.80.

AxoGen Trading Down 5.7 %

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 has a market cap of $583.02 million, a price-to-earnings ratio of -27.50 and a beta of 1.12. The firm has a 50-day moving average price of $12.12 and a 200 day moving average price of $8.94.

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

Institutional Investors Weigh In On AxoGen

A number of institutional investors have recently modified their holdings of AXGN. Koss Olinger Consulting LLC acquired a new position in AxoGen in the second quarter valued at approximately $75,000. Lazard Asset Management LLC boosted its position in AxoGen by 30.1% during the 1st quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider's stock valued at $93,000 after purchasing an additional 2,671 shares during the period. Acadian Asset Management LLC bought a new position in AxoGen during the 2nd quarter worth $125,000. BNP Paribas Financial Markets increased its position in AxoGen by 8.6% in the first quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider's stock worth $168,000 after buying an additional 1,651 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in AxoGen in the third quarter worth $227,000. Institutional investors own 80.29% of the company's stock.

About AxoGen

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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