AxoGen (NASDAQ:AXGN) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of AxoGen (NASDAQ:AXGN) from a buy rating to a hold rating in a research report released on Monday.

A number of other analysts have also issued reports on AXGN. JMP Securities boosted their price objective on AxoGen from $17.00 to $20.00 and gave the company a market outperform rating in a research note on Friday, August 9th. Raymond James started coverage on AxoGen in a research report on Monday, July 1st. They set an outperform rating and a $13.00 price target on the stock. Finally, Canaccord Genuity Group restated a buy rating and issued a $15.00 price objective on shares of AxoGen in a research report on Thursday, June 20th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, AxoGen has a consensus rating of Moderate Buy and an average target price of $13.80.

AxoGen Price Performance

Shares of NASDAQ:AXGN opened at $13.28 on Monday. The company has a 50-day moving average price of $10.44 and a two-hundred day moving average price of $8.43. AxoGen has a twelve month low of $3.45 and a twelve month high of $13.42. The company has a quick ratio of 2.32, a current ratio of 3.51 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $582.06 million, a PE ratio of -26.56 and a beta of 1.12.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings data on Thursday, August 8th. The medical equipment provider reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.10. AxoGen had a negative net margin of 9.53% and a negative return on equity of 17.30%. The company had revenue of $47.91 million during the quarter, compared to the consensus estimate of $43.27 million. Equities analysts forecast that AxoGen will post -0.33 EPS for the current year.

Institutional Investors Weigh In On AxoGen

Hedge funds have recently bought and sold shares of the stock. Koss Olinger Consulting LLC purchased a new stake in shares of AxoGen during the 2nd quarter valued at $75,000. Lazard Asset Management LLC lifted its stake 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 worth $93,000 after purchasing an additional 2,671 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of AxoGen in the 2nd quarter worth about $125,000. BNP Paribas Financial Markets increased its position in shares of AxoGen by 8.6% during the 1st quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider’s stock valued at $168,000 after purchasing an additional 1,651 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of AxoGen by 8.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,650 shares of the medical equipment provider’s stock valued at $240,000 after buying an additional 2,204 shares in the last quarter. 80.29% of the stock is currently owned by institutional investors.

AxoGen Company Profile

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.