Jefferies Group Comments on AxoGen, Inc.’s FY2017 Earnings (AXGN)

AxoGen, Inc. (NASDAQ:AXGN) – Analysts at Jefferies Group issued their FY2017 earnings per share estimates for AxoGen in a research note issued on Thursday. Jefferies Group analyst R. Denhoy forecasts that the medical equipment provider will post earnings of ($0.33) per share for the year. Jefferies Group has a “Buy” rating and a $35.00 price objective on the stock. Jefferies Group also issued estimates for AxoGen’s Q4 2017 earnings at ($0.09) EPS, Q1 2018 earnings at ($0.07) EPS, Q2 2018 earnings at ($0.03) EPS, Q3 2018 earnings at ($0.08) EPS, Q4 2018 earnings at ($0.09) EPS, FY2018 earnings at ($0.27) EPS, FY2019 earnings at ($0.13) EPS, FY2020 earnings at $0.13 EPS and FY2021 earnings at $0.46 EPS.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings results on Wednesday, November 1st. The medical equipment provider reported ($0.06) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.06). AxoGen had a negative return on equity of 91.00% and a negative net margin of 24.74%. The business had revenue of $16.05 million for the quarter, compared to analyst estimates of $15.55 million. The business’s revenue was up 43.2% compared to the same quarter last year.

A number of other equities research analysts have also weighed in on AXGN. Cantor Fitzgerald restated a “buy” rating and set a $18.00 price target on shares of AxoGen in a research note on Monday, August 21st. Roth Capital restated a “buy” rating and set a $21.00 price target (up previously from $18.00) on shares of AxoGen in a research note on Tuesday, September 12th. Leerink Swann restated an “outperform” rating and set a $23.00 price target (up previously from $22.00) on shares of AxoGen in a research note on Saturday, September 30th. Wedbush reiterated a “buy” rating and issued a $27.00 target price (up previously from $22.00) on shares of AxoGen in a research report on Tuesday, November 21st. Finally, Lake Street Capital upped their target price on AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, November 21st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $26.17.

Shares of AxoGen (NASDAQ AXGN) opened at $26.70 on Monday. AxoGen has a 52 week low of $8.15 and a 52 week high of $27.60. The company has a debt-to-equity ratio of 1.93, a quick ratio of 2.95 and a current ratio of 3.55.

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of AxoGen by 80.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 160,354 shares of the medical equipment provider’s stock worth $2,685,000 after buying an additional 71,609 shares during the period. Bradley Foster & Sargent Inc. CT raised its stake in AxoGen by 536.6% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 78,905 shares of the medical equipment provider’s stock valued at $1,322,000 after purchasing an additional 66,510 shares during the last quarter. New York State Common Retirement Fund raised its stake in AxoGen by 26.6% in the 2nd quarter. New York State Common Retirement Fund now owns 31,400 shares of the medical equipment provider’s stock valued at $526,000 after purchasing an additional 6,599 shares during the last quarter. Menta Capital LLC raised its stake in AxoGen by 7.1% in the 2nd quarter. Menta Capital LLC now owns 116,845 shares of the medical equipment provider’s stock valued at $1,957,000 after purchasing an additional 7,777 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new position in AxoGen in the 2nd quarter valued at $947,000. 66.00% of the stock is owned by institutional investors and hedge funds.

In other AxoGen news, Director Robert James Rudelius sold 16,143 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $18.00, for a total value of $290,574.00. Following the sale, the director now owns 43,273 shares in the company, valued at approximately $778,914. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Guido J. Neels sold 1,150,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $19.74, for a total value of $22,701,000.00. The disclosure for this sale can be found here. Corporate insiders own 9.33% of the company’s stock.

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AxoGen Company Profile

AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The company’s surgical nerve repair solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed 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 nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.

Earnings History and Estimates for AxoGen (NASDAQ:AXGN)

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