AxoGen (NASDAQ:AXGN) Trading Down 4.3% – What’s Next?

AxoGen, Inc. (NASDAQ:AXGN) shares dropped 4.3% during trading on Thursday . The stock traded as low as $13.66 and last traded at $13.84. Approximately 50,139 shares changed hands during trading, a decline of 87% from the average daily volume of 399,537 shares. The stock had previously closed at $14.46.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Raymond James began coverage on AxoGen in a research report on Monday, July 1st. They set an “outperform” rating and a $13.00 price objective for the company. JMP Securities raised their price target on AxoGen from $17.00 to $20.00 and gave the company a “market outperform” rating in a report on Friday, August 9th. Finally, StockNews.com raised AxoGen from a “hold” rating to a “buy” rating in a report on Tuesday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AxoGen currently has an average rating of “Buy” and a consensus price target of $15.00.

AxoGen Trading Down 0.6 %

The company has a debt-to-equity ratio of 0.70, a current ratio of 3.51 and a quick ratio of 2.32. The company has a 50-day moving average of $13.31 and a 200 day moving average of $9.44. The company has a market cap of $575.16 million, a PE ratio of -26.32 and a beta of 1.13.

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, beating the consensus estimate of ($0.14) by $0.10. The company had revenue of $47.91 million for the quarter, compared to analyst estimates of $43.27 million. AxoGen had a negative return on equity of 17.30% and a negative net margin of 9.53%. Analysts predict that AxoGen, Inc. will post -0.33 earnings per share for the current year.

Institutional Trading of AxoGen

Several institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new stake in shares of AxoGen in the third quarter worth approximately $56,000. Koss Olinger Consulting LLC purchased a new stake in AxoGen in the second quarter worth $75,000. Lazard Asset Management LLC lifted its position in shares of 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 stake in shares of AxoGen during the second quarter valued at $125,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of AxoGen by 8.6% during the first 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 period. Institutional investors own 80.29% of the company’s stock.

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.