AxoGen (NASDAQ:AXGN) Trading Down 11.2% – Should You Sell?

AxoGen, Inc. (NASDAQ:AXGN) shares fell 11.2% during mid-day trading on Thursday . The stock traded as low as $11.51 and last traded at $13.61. 207,541 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 398,912 shares. The stock had previously closed at $15.33.

Analysts Set New Price Targets

A number of equities research analysts have commented on AXGN shares. JMP Securities raised their price target on shares of AxoGen from $17.00 to $20.00 and gave the stock a “market outperform” rating in a report on Friday, August 9th. StockNews.com raised shares of AxoGen from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $15.00.

AxoGen Trading Down 4.6 %

The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.32 and a current ratio of 3.51. The firm has a 50 day simple moving average of $13.80 and a two-hundred day simple moving average of $10.11.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.10. The business had revenue of $47.91 million for the quarter, compared to analysts’ expectations of $43.27 million. AxoGen had a negative net margin of 9.53% and a negative return on equity of 17.30%. As a group, sell-side analysts forecast that AxoGen, Inc. will post -0.33 earnings per share for the current year.

Hedge Funds Weigh In On AxoGen

Institutional investors have recently modified their holdings of the business. Quest Partners LLC lifted its holdings in AxoGen by 23,066.7% during the third quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 2,076 shares during the period. nVerses Capital LLC purchased a new stake in shares of AxoGen during the 3rd quarter valued at $56,000. Koss Olinger Consulting LLC bought a new stake in shares of AxoGen during the 2nd quarter worth $75,000. Oppenheimer & Co. Inc. purchased a new position in shares of AxoGen in the 3rd quarter worth about $156,000. Finally, Lazard Asset Management LLC grew its position in AxoGen by 30.1% during the first quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock valued at $93,000 after buying an additional 2,671 shares during the period. 80.29% of the stock is owned by institutional investors.

About AxoGen

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company’s products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral 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; 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; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.