AxoGen (NASDAQ:AXGN) Downgraded by StockNews.com

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

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

AxoGen Price Performance

Shares of NASDAQ:AXGN opened at $13.57 on Monday. AxoGen has a 1-year low of $3.45 and a 1-year high of $13.79. The company has a current ratio of 3.51, a quick ratio of 2.32 and a debt-to-equity ratio of 0.70. The stock has a market cap of $593.08 million, a PE ratio of -27.14 and a beta of 1.12. The stock’s fifty day simple moving average is $10.56 and its two-hundred day simple moving average is $8.46.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings data 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 return on equity of 17.30% and a negative net margin of 9.53%. As a group, analysts forecast that AxoGen will post -0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On AxoGen

A number of large investors have recently modified their holdings of the company. Koss Olinger Consulting LLC purchased a new stake in AxoGen in the 2nd quarter worth approximately $75,000. Lazard Asset Management LLC boosted 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 valued at $93,000 after buying an additional 2,671 shares during the period. Acadian Asset Management LLC purchased a new position in AxoGen during the second quarter worth about $125,000. BNP Paribas Financial Markets raised its holdings in shares of AxoGen by 8.6% in the 1st quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider’s stock valued at $168,000 after acquiring an additional 1,651 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position 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 acquiring an additional 2,204 shares during the last quarter. 80.29% of the stock is currently 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.