Several other brokerages have also issued reports on AXGN. BidaskClub raised AxoGen from a “hold” rating to a “buy” rating in a report on Wednesday, March 6th. Cantor Fitzgerald set a $26.00 price target on AxoGen and gave the stock a “buy” rating in a report on Monday, April 22nd. Finally, BTIG Research raised AxoGen from a “neutral” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $36.33.
AxoGen stock opened at $24.70 on Wednesday. AxoGen has a 1-year low of $14.13 and a 1-year high of $56.85. The firm has a market capitalization of $914.43 million, a price-to-earnings ratio of -45.74 and a beta of 0.19.
AxoGen (NASDAQ:AXGN) last issued its quarterly earnings data on Tuesday, February 26th. The medical equipment provider reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The firm had revenue of $23.40 million for the quarter, compared to analysts’ expectations of $23.40 million. AxoGen had a negative return on equity of 15.77% and a negative net margin of 26.68%. The business’s revenue for the quarter was up 37.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.07) EPS. Equities research analysts predict that AxoGen will post -0.61 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AXGN. Bank of New York Mellon Corp boosted its holdings in AxoGen by 22.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,102,971 shares of the medical equipment provider’s stock valued at $40,645,000 after purchasing an additional 199,885 shares in the last quarter. BlackRock Inc. lifted its position in shares of AxoGen by 2.8% during the 3rd quarter. BlackRock Inc. now owns 2,506,327 shares of the medical equipment provider’s stock valued at $92,358,000 after acquiring an additional 69,008 shares during the period. MetLife Investment Advisors LLC lifted its position in shares of AxoGen by 55.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 24,012 shares of the medical equipment provider’s stock valued at $885,000 after acquiring an additional 8,536 shares during the period. Macquarie Group Ltd. acquired a new stake in shares of AxoGen during the 3rd quarter valued at approximately $1,024,000. Finally, Neuberger Berman Group LLC lifted its position in shares of AxoGen by 43.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 285,000 shares of the medical equipment provider’s stock valued at $10,502,000 after acquiring an additional 86,000 shares during the period. 89.27% of the stock is currently owned by hedge funds and other institutional investors.
AxoGen Company Profile
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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