Jefferies Group Increases AxoGen (NASDAQ:AXGN) Price Target to $45.00

AxoGen (NASDAQ:AXGN) had its price objective boosted by Jefferies Group to $45.00 in a research note released on Monday, March 19th. The brokerage currently has a buy rating on the medical equipment provider’s stock.

Other equities analysts have also recently issued reports about the company. Leerink Swann raised their price objective on AxoGen from $26.00 to $30.00 and gave the company an outperform rating in a report on Tuesday, November 21st. BidaskClub raised AxoGen from a buy rating to a strong-buy rating in a research note on Friday, February 23rd. Lake Street Capital lifted their price target on AxoGen from $22.00 to $26.00 and gave the stock a buy rating in a research note on Tuesday, November 21st. Wedbush reissued a buy rating and set a $27.00 target price (up from $22.00) on shares of AxoGen in a research note on Tuesday, November 21st. Finally, Cantor Fitzgerald reissued an overweight rating on shares of AxoGen in a research note on Friday, January 5th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. AxoGen presently has an average rating of Buy and an average price target of $33.14.

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Shares of AxoGen stock traded up $0.20 during trading hours on Monday, hitting $38.40. 176,160 shares of the company’s stock traded hands, compared to its average volume of 341,314. AxoGen has a 12-month low of $11.25 and a 12-month high of $40.95. The firm has a market cap of $1,323.66, a PE ratio of -123.87 and a beta of 0.01. The company has a debt-to-equity ratio of 0.79, a current ratio of 4.07 and a quick ratio of 3.53.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings data on Wednesday, February 28th. The medical equipment provider reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.02. AxoGen had a negative return on equity of 70.63% and a negative net margin of 17.29%. The company had revenue of $16.97 million during the quarter, compared to analyst estimates of $16.38 million. During the same quarter last year, the firm posted ($0.10) EPS. The firm’s revenue for the quarter was up 48.7% on a year-over-year basis. equities analysts anticipate that AxoGen will post -0.3 EPS for the current fiscal year.

In other news, CFO Jamie Mark Grooms sold 10,300 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $26.21, for a total transaction of $269,963.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 169,407 shares of company stock worth $4,593,013. Corporate insiders own 7.86% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. William Blair Investment Management LLC purchased a new stake in AxoGen in the fourth quarter worth about $5,081,000. MetLife Investment Advisors LLC bought a new position in shares of AxoGen in the fourth quarter worth about $388,000. Gotham Asset Management LLC bought a new position in shares of AxoGen in the fourth quarter worth about $249,000. Paloma Partners Management Co bought a new position in shares of AxoGen in the fourth quarter worth about $215,000. Finally, Two Sigma Advisers LP boosted its stake in shares of AxoGen by 62.0% in the fourth quarter. Two Sigma Advisers LP now owns 116,500 shares of the medical equipment provider’s stock worth $3,297,000 after acquiring an additional 44,600 shares during the period. Institutional investors and hedge funds own 67.84% of the company’s stock.

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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.

Analyst Recommendations for AxoGen (NASDAQ:AXGN)

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