AxoGen Receives a Buy from JMP Securities

By Ryan Adsit

JMP Securities analyst David Turkaly reiterated a Buy rating on AxoGen (NASDAQ: AXGN) today. The company’s shares closed yesterday at $8.55.

According to TipRanks.com, Turkaly is a 4-star analyst with an average return of 12.6% and a 62.2% success rate. Turkaly covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Integra Lifesciences, and Orasure Technologies.

Currently, the analyst consensus on AxoGen is Strong Buy and the average price target is $12, representing a 40.4% upside.

In a report released today, Lake Street also upgraded the stock to Buy with a $11 price target.

Based on AxoGen’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $11.21 million and GAAP net loss of $2.31 million. In comparison, last year the company earned revenue of $8.15 million and had a GAAP net loss of $2.98 million.

Based on the recent corporate insider activity of 10 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. Most recently, in August 2016, Mark Stephen Gold, a Director at AXGN bought 3,750 shares for a total of $13,500.

AxoGen, Inc. is a regenerative medicine company, which is focused on the science, development and commercialization of technologies for peripheral nerve solutions. Its products include Avance Nerve Graft, AxoGuard Nerve Protector and AxoGuard Nerve Connector. The company was founded in 1977 and is headquartered in Alachua, FL.