AxoGen (AXGN) Receives a Rating Update from a Top Analyst

In a report released yesterday, Ryan Zimmerman from BTIG maintained a Hold rating on AxoGen (AXGNResearch Report). The company’s shares closed last Wednesday at $19.64.

According to TipRanks.com, Zimmerman is a top 100 analyst with an average return of 36.9% and a 63.9% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Staar Surgical Company, and Organogenesis Holdings.

AxoGen has an analyst consensus of Moderate Buy, with a price target consensus of $24.00, which is a 23.1% upside from current levels. In a report issued on May 2, Canaccord Genuity also maintained a Hold rating on the stock with a $21.00 price target.

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Based on AxoGen’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $32.5 million and GAAP net loss of $6.01 million. In comparison, last year the company earned revenue of $28.16 million and had a GAAP net loss of $7.04 million.

Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AXGN in relation to earlier this year. Last month, Erick Wayne Devinney, the VP of Clin. & Trans. Sciences of AXGN bought 10,000 shares for a total of $28,600.

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AxoGen, Inc. engages in the development and market of surgical solutions for peripheral nerves. It also provides products and education to improve surgical treatment algorithms for peripheral nerve damage or discontinuity. Its products include avance nerve graft, axoguard nerve connector, axoguard nerve protector, avive soft tissue membrane, acroval neurosensory and motor testing system, and axotouch two-point discriminator. The company was founded in 1977 and is headquartered in Alachua, FL.