StockNews.com Upgrades AxoGen (NASDAQ:AXGN) to Buy

StockNews.com upgraded shares of AxoGen (NASDAQ:AXGN - Free Report) from a hold rating to a buy rating in a report published on Tuesday.

AXGN has been the subject of several other research reports. JMP Securities boosted their price target on shares of AxoGen from $17.00 to $20.00 and gave the stock a market outperform rating in a report on Friday, August 9th. Raymond James began coverage on shares of AxoGen in a research note on Monday, July 1st. They set an outperform rating and a $13.00 target price for the company. Finally, Canaccord Genuity Group restated a buy rating and issued a $15.00 price target on shares of AxoGen in a research note on Thursday, June 20th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of $13.80.

AxoGen Stock Up 0.7 %

Shares of AxoGen stock traded up $0.10 during trading hours on Tuesday, reaching $14.35. 258,370 shares of the company were exchanged, compared to its average volume of 400,698. The firm has a market cap of $627.17 million, a PE ratio of -28.70 and a beta of 1.13. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.32 and a current ratio of 3.51. AxoGen has a 1 year low of $3.45 and a 1 year high of $15.08. The stock's fifty day moving average is $13.08 and its 200 day moving average is $9.34.

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

Hedge Funds Weigh In On AxoGen

Large investors have recently bought and sold shares of the stock. Koss Olinger Consulting LLC purchased a new stake in shares of AxoGen in the 2nd quarter valued at about $75,000. Lazard Asset Management LLC boosted its holdings in shares of AxoGen by 30.1% in the first quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider's stock valued at $93,000 after acquiring an additional 2,671 shares during the period. Acadian Asset Management LLC purchased a new position in shares of AxoGen during the second quarter worth approximately $125,000. BNP Paribas Financial Markets increased its holdings in shares of AxoGen by 8.6% in the 1st quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider's stock valued at $168,000 after acquiring an additional 1,651 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in AxoGen in the 3rd quarter valued at $227,000. Institutional investors and hedge funds own 80.29% of the company's stock.

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.