AxoGen (NASDAQ:AXGN) Issues Quarterly Earnings Results, Beats Estimates By $0.08 EPS

AxoGen (NASDAQ:AXGN) posted its quarterly earnings results on Sunday. The medical equipment provider reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.08, MarketWatch Earnings reports. AxoGen had a negative net margin of 22.98% and a negative return on equity of 19.83%.

AXGN traded up $0.21 on Tuesday, reaching $21.40. The company had a trading volume of 797,124 shares, compared to its average volume of 264,749. The business has a 50 day simple moving average of $19.02 and a 200 day simple moving average of $14.98. The company has a market cap of $869.25 million, a price-to-earnings ratio of -33.97 and a beta of 0.71. The company has a debt-to-equity ratio of 0.42, a quick ratio of 6.81 and a current ratio of 7.45. AxoGen has a 52-week low of $7.16 and a 52-week high of $22.89.

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A number of brokerages have weighed in on AXGN. Cantor Fitzgerald increased their target price on shares of AxoGen from $16.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 12th. SVB Leerink increased their target price on shares of AxoGen from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Canaccord Genuity increased their target price on shares of AxoGen from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. AxoGen currently has a consensus rating of “Buy” and an average price target of $23.75.

In related news, CEO Karen L. Zaderej sold 3,500 shares of AxoGen stock in a transaction on Tuesday, December 29th. The shares were sold at an average price of $17.81, for a total value of $62,335.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Karen L. Zaderej sold 65,000 shares of AxoGen stock in a transaction on Friday, January 8th. The shares were sold at an average price of $20.00, for a total transaction of $1,300,000.00. Following the completion of the sale, the chief executive officer now owns 609,099 shares in the company, valued at approximately $12,181,980. The disclosure for this sale can be found here. Insiders sold 72,932 shares of company stock worth $1,439,869 over the last ninety days. 6.94% of the stock is currently owned by insiders.

About AxoGen

AxoGen, Inc, together with its subsidiaries, provides surgical solutions for physical damage or transection to peripheral nerves. The company's products include Avance Nerve Graft, a biologically active 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 peripheral 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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