AxoGen (NASDAQ:AXGN) Shares Gap Up to $10.75

AxoGen, Inc (NASDAQ:AXGN) shares gapped up before the market opened on Wednesday . The stock had previously closed at $10.75, but opened at $13.00. AxoGen shares last traded at $13.15, with a volume of 6,412 shares.

AXGN has been the subject of several recent analyst reports. BidaskClub downgraded AxoGen from a “hold” rating to a “sell” rating in a research note on Wednesday. BTIG Research reiterated a “hold” rating on shares of AxoGen in a research report on Wednesday, August 5th. Cantor Fitzgerald began coverage on AxoGen in a research report on Monday, June 15th. They issued a “buy” rating and a $16.00 price objective on the stock. SVB Leerink raised their price target on AxoGen from $13.50 to $15.50 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Finally, Canaccord Genuity lowered AxoGen to a “hold” rating and set a $12.00 price target on the stock. in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. AxoGen presently has an average rating of “Hold” and a consensus price target of $16.13.

The company has a quick ratio of 9.09, a current ratio of 10.00 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $425.69 million, a P/E ratio of -17.26 and a beta of 0.74. The firm has a 50 day moving average of $11.47 and a 200-day moving average of $10.18.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Wednesday, August 5th. The medical equipment provider reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.13. AxoGen had a negative net margin of 28.04% and a negative return on equity of 22.08%. The company had revenue of $22.12 million during the quarter, compared to the consensus estimate of $21.00 million. As a group, research analysts expect that AxoGen, Inc will post -0.9 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. acquired a new stake in shares of AxoGen in the 1st quarter worth about $31,000. Strs Ohio bought a new stake in shares of AxoGen during the 2nd quarter valued at about $86,000. Citigroup Inc. boosted its stake in shares of AxoGen by 41.0% during the 1st quarter. Citigroup Inc. now owns 9,962 shares of the medical equipment provider’s stock valued at $104,000 after purchasing an additional 2,898 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in AxoGen by 166.4% during the first quarter. BNP Paribas Arbitrage SA now owns 10,523 shares of the medical equipment provider’s stock worth $109,000 after acquiring an additional 6,573 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in AxoGen during the first quarter worth about $124,000. 79.29% of the stock is currently owned by institutional investors.

About AxoGen (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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