AxoGen (AXGN) Shares Up 2.7%

AxoGen, Inc (NASDAQ:AXGN) shares shot up 2.7% during trading on Wednesday . The company traded as high as $36.83 and last traded at $36.71. 9,549 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 525,343 shares. The stock had previously closed at $35.75.

A number of research firms recently commented on AXGN. Cantor Fitzgerald dropped their price target on AxoGen from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday. Leerink Swann reissued an “outperform” rating and set a $55.00 target price on shares of AxoGen in a research note on Tuesday. Finally, BidaskClub raised AxoGen from a “sell” rating to a “hold” rating in a research note on Thursday, October 18th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $41.83.

The company has a market capitalization of $1.25 billion, a P/E ratio of -121.90 and a beta of -0.39.



AxoGen (NASDAQ:AXGN) last issued its earnings results on Monday, October 29th. The medical equipment provider reported ($0.05) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.05). The firm had revenue of $22.66 million during the quarter, compared to the consensus estimate of $22.52 million. AxoGen had a negative return on equity of 23.94% and a negative net margin of 25.39%. The business’s quarterly revenue was up 41.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. Research analysts anticipate that AxoGen, Inc will post -0.61 EPS for the current year.

In other AxoGen news, Director Amy Mcbride Wendell bought 5,000 shares of the stock in a transaction on Tuesday, August 14th. The stock was purchased at an average price of $36.89 per share, with a total value of $184,450.00. Following the completion of the purchase, the director now owns 18,333 shares in the company, valued at $676,304.37. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 7.86% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of AxoGen by 18.3% in the second quarter. BlackRock Inc. now owns 2,437,319 shares of the medical equipment provider’s stock valued at $122,476,000 after buying an additional 377,275 shares during the period. Marshall Wace LLP acquired a new position in shares of AxoGen in the second quarter valued at approximately $58,740,000. Renaissance Technologies LLC increased its stake in shares of AxoGen by 12.4% in the second quarter. Renaissance Technologies LLC now owns 998,300 shares of the medical equipment provider’s stock valued at $50,165,000 after buying an additional 110,500 shares during the period. Eagle Asset Management Inc. increased its stake in shares of AxoGen by 237.8% in the second quarter. Eagle Asset Management Inc. now owns 906,339 shares of the medical equipment provider’s stock valued at $45,543,000 after buying an additional 638,019 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of AxoGen by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 903,086 shares of the medical equipment provider’s stock valued at $45,380,000 after buying an additional 25,748 shares during the period. 83.79% of the stock is owned by institutional investors.

AxoGen Company Profile (NASDAQ:AXGN)

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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