AxoGen (NASDAQ:AXGN) Stock Rating Lowered by Wall Street Zen

AxoGen (NASDAQ:AXGN) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other equities analysts also recently issued research reports about the company. HC Wainwright upped their target price on AxoGen from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Raymond James Financial lifted their price target on AxoGen from $48.00 to $53.00 and gave the stock an “outperform” rating in a report on Friday. Citigroup restated a “market outperform” rating on shares of AxoGen in a research note on Thursday, July 30th. Truist Financial started coverage on AxoGen in a report on Wednesday, August 26th. They issued a “buy” rating and a $60.00 price objective on the stock. Finally, Canaccord Genuity Group increased their price objective on AxoGen from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.11.

AxoGen Stock Performance

Shares of AXGN stock opened at $43.39 on Friday. AxoGen has a 52 week low of $15.27 and a 52 week high of $52.91. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of -63.81 and a beta of 1.16. The company has a 50-day simple moving average of $45.80 and a 200 day simple moving average of $41.44. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.04 and a current ratio of 6.60.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. The firm had revenue of $69.73 million for the quarter, compared to analysts’ expectations of $67.10 million. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. On average, sell-side analysts predict that AxoGen will post -0.45 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Amy Wendell sold 13,353 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $48.42, for a total value of $646,552.26. Following the transaction, the director owned 107,976 shares in the company, valued at approximately $5,228,197.92. This trade represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathy Weiler sold 14,150 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $45.30, for a total value of $640,995.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 98,503 shares of company stock valued at $4,656,947 over the last 90 days. 2.44% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AxoGen

Several institutional investors and hedge funds have recently bought and sold shares of AXGN. Sequoia Financial Advisors LLC acquired a new stake in AxoGen during the second quarter worth about $272,000. Tidal Investments LLC acquired a new position in shares of AxoGen in the 2nd quarter valued at approximately $225,000. Arizona State Retirement System lifted its holdings in shares of AxoGen by 7.6% during the 2nd quarter. Arizona State Retirement System now owns 13,604 shares of the medical equipment provider’s stock worth $628,000 after acquiring an additional 966 shares during the period. Nykredit A S acquired a new stake in shares of AxoGen during the 2nd quarter worth approximately $30,000. Finally, Corient Private Wealth LP acquired a new stake in shares of AxoGen during the 2nd quarter worth approximately $418,000. Institutional investors own 80.29% of the company’s stock.

About AxoGen

AxoGen, Inc (NASDAQ: AXGN) is a medical technology company focused on the repair and regeneration of damaged peripheral nerves. The company develops and markets biologic and surgical products intended to help restore sensory and motor function following traumatic nerve injuries or surgical procedures.

Its product portfolio includes Avance Nerve Graft, a processed human nerve allograft used to bridge gaps in damaged nerves; Axoguard Nerve Connector, designed to protect and support the repair of smaller nerve injuries; and Axoguard Nerve Protector, a collagen-based product intended to help protect repaired nerves and reduce the effects of scar tissue.