Leerink Swann Comments on AxoGen, Inc.’s Q3 2017 Earnings (NASDAQ:AXGN)

AxoGen, Inc. (NASDAQ:AXGN) – Analysts at Leerink Swann cut their Q3 2017 earnings per share (EPS) estimates for AxoGen in a research note issued on Thursday. Leerink Swann analyst R. Newitter now forecasts that the medical equipment provider will post earnings of ($0.08) per share for the quarter, down from their prior forecast of ($0.06). Leerink Swann currently has a “Outperform” rating and a $22.00 price target on the stock. Leerink Swann also issued estimates for AxoGen’s FY2017 earnings at ($0.32) EPS, Q1 2018 earnings at ($0.10) EPS, Q2 2018 earnings at ($0.05) EPS and FY2018 earnings at ($0.12) EPS.

Several other analysts also recently commented on AXGN. Wedbush restated an “outperform” rating and issued a $14.00 target price (down from $17.00) on shares of AxoGen in a research note on Friday, May 19th. ValuEngine upgraded AxoGen from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Cantor Fitzgerald began coverage on AxoGen in a research note on Thursday, June 29th. They set an “overweight” rating and a $18.00 price target for the company. Finally, BidaskClub downgraded AxoGen from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $15.90.

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Shares of AxoGen (NASDAQ:AXGN) opened at 14.65 on Monday. The company’s market cap is $486.97 million. AxoGen has a 12-month low of $6.51 and a 12-month high of $17.25. The company’s 50-day moving average price is $15.87 and its 200 day moving average price is $12.68.

AxoGen (NASDAQ:AXGN) last released its earnings results on Wednesday, August 2nd. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. AxoGen had a negative return on equity of 114.64% and a negative net margin of 27.50%. The business had revenue of $15.20 million for the quarter, compared to analyst estimates of $14.40 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share. AxoGen’s revenue was up 46.2% on a year-over-year basis.

A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its position in AxoGen by 8.7% in the first quarter. Bank of America Corp DE now owns 10,183 shares of the medical equipment provider’s stock worth $106,000 after buying an additional 814 shares during the period. Parametric Portfolio Associates LLC increased its position in AxoGen by 0.9% in the first quarter. Parametric Portfolio Associates LLC now owns 10,843 shares of the medical equipment provider’s stock worth $113,000 after buying an additional 93 shares during the period. Campbell & CO Investment Adviser LLC increased its position in AxoGen by 3.2% in the first quarter. Campbell & CO Investment Adviser LLC now owns 11,055 shares of the medical equipment provider’s stock worth $116,000 after buying an additional 341 shares during the period. TFS Capital LLC bought a new position in AxoGen during the first quarter worth about $120,000. Finally, Knott David M bought a new position in AxoGen during the first quarter worth about $142,000. Institutional investors and hedge funds own 64.58% of the company’s stock.

Earnings History and Estimates for AxoGen (NASDAQ:AXGN)

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