Leerink Partnrs Brokers Lift Earnings Estimates for AxoGen

AxoGen, Inc. (NASDAQ:AXGN) – Stock analysts at Leerink Partnrs raised their FY2024 earnings per share estimates for shares of AxoGen in a research note issued to investors on Monday, November 25th. Leerink Partnrs analyst M. Kratky now forecasts that the medical equipment provider will post earnings of ($0.31) per share for the year, up from their prior forecast of ($0.32). The consensus estimate for AxoGen’s current full-year earnings is ($0.30) per share. Leerink Partnrs also issued estimates for AxoGen’s Q4 2024 earnings at ($0.07) EPS, Q1 2025 earnings at ($0.08) EPS, Q2 2025 earnings at ($0.01) EPS, Q3 2025 earnings at $0.01 EPS, FY2025 earnings at ($0.06) EPS, FY2026 earnings at $0.17 EPS, FY2027 earnings at $0.26 EPS and FY2028 earnings at $0.34 EPS.

Other analysts have also recently issued reports about the company. StockNews.com raised AxoGen from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. JMP Securities upped their price objective on AxoGen from $17.00 to $20.00 and gave the company a “market outperform” rating in a research report on Friday, August 9th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $15.00.

AxoGen Stock Up 3.4 %

Shares of NASDAQ:AXGN opened at $14.07 on Wednesday. The stock’s 50-day moving average is $13.71 and its 200 day moving average is $10.74. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. The company has a market cap of $619.22 million, a PE ratio of -43.53 and a beta of 1.13. AxoGen has a 1 year low of $5.55 and a 1 year high of $15.90.

Institutional Trading of AxoGen

Large investors have recently added to or reduced their stakes in the business. First Light Asset Management LLC increased its stake in shares of AxoGen by 336.6% in the 2nd quarter. First Light Asset Management LLC now owns 3,344,033 shares of the medical equipment provider’s stock worth $24,211,000 after purchasing an additional 2,578,147 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in AxoGen by 2,014.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,310,811 shares of the medical equipment provider’s stock worth $9,490,000 after acquiring an additional 1,248,823 shares in the last quarter. Geode Capital Management LLC raised its stake in AxoGen by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider’s stock worth $14,170,000 after acquiring an additional 31,612 shares during the period. State Street Corp lifted its holdings in AxoGen by 11.9% during the third quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock valued at $12,571,000 after purchasing an additional 95,051 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its position in shares of AxoGen by 4.5% in the first quarter. Silvercrest Asset Management Group LLC now owns 790,647 shares of the medical equipment provider’s stock worth $6,381,000 after purchasing an additional 34,399 shares during the period. 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.