Raymond James Begins Coverage on AxoGen (NASDAQ:AXGN)

Equities researchers at Raymond James started coverage on shares of AxoGen (NASDAQ:AXGN) in a research note issued on Monday, Marketbeat.com reports. The firm set an “outperform” rating and a $13.00 price target on the medical equipment provider’s stock. Raymond James’ price objective would indicate a potential upside of 72.87% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. StockNews.com downgraded shares of AxoGen from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Canaccord Genuity Group reiterated a “buy” rating and set a $15.00 target price on shares of AxoGen in a research report on Thursday, June 20th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.25.

AxoGen Stock Performance

NASDAQ:AXGN opened at $7.52 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.43 and a quick ratio of 2.23. The firm has a market cap of $328.70 million, a price-to-earnings ratio of -15.04 and a beta of 1.11. The firm’s fifty day moving average price is $6.68 and its 200 day moving average price is $7.81. AxoGen has a 1-year low of $3.45 and a 1-year high of $10.83.

AxoGen (NASDAQ:AXGN) last released its earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.04. The company had revenue of $41.38 million for the quarter, compared to analysts’ expectations of $42.05 million. AxoGen had a negative return on equity of 22.18% and a negative net margin of 12.99%. On average, sell-side analysts expect that AxoGen will post -0.48 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. M&T Bank Corp grew its holdings in AxoGen by 18.2% during the 4th quarter. M&T Bank Corp now owns 56,780 shares of the medical equipment provider’s stock valued at $388,000 after buying an additional 8,744 shares during the last quarter. White Pine Capital LLC boosted its stake in shares of AxoGen by 127.1% during the fourth quarter. White Pine Capital LLC now owns 107,733 shares of the medical equipment provider’s stock valued at $736,000 after acquiring an additional 60,300 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in AxoGen by 13.5% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 92,260 shares of the medical equipment provider’s stock worth $630,000 after purchasing an additional 11,000 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in AxoGen by 534.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,805 shares of the medical equipment provider’s stock valued at $53,000 after purchasing an additional 6,575 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its holdings in AxoGen by 69.8% in the 4th quarter. Panagora Asset Management Inc. now owns 165,461 shares of the medical equipment provider’s stock valued at $1,130,000 after purchasing an additional 68,001 shares in the last quarter. 80.29% of the stock is owned by hedge funds and other 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.