After Cantor Fitzgerald and Canaccord Genuity gave AxoGen (NASDAQ: AXGN) a Buy rating last month, the company received another Buy, this time from BTIG. Analyst Ryan Zimmerman maintained a Buy rating on AxoGen today and set a price target of $21.00. The company’s shares closed last Monday at $15.25, close to its 52-week low of $10.91.
According to TipRanks.com, Zimmerman is a 5-star analyst with an average return of 20.8% and a 67.4% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Integra Lifesciences, and SeaSpine Holdings.
Currently, the analyst consensus on AxoGen is a Moderate Buy with an average price target of $22.00, representing a 63.0% upside. In a report released today, Cantor Fitzgerald also maintained a Buy rating on the stock with a $19.00 price target.
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Based on AxoGen’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $7.02 million. In comparison, last year the company had a GAAP net loss of $4.1 million.
Based on the recent corporate insider activity of 31 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, Donovan Michael Patrick, the VP Operations of AXGN bought 6,500 shares for a total of $28,400.
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AxoGen, Inc. engages in the development and market of surgical solutions for peripheral nerves. It also provide products and education to improve surgical treatment algorithms for peripheral nerve damage or discontinuity.
