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Strength Seen in AxoGen (AXGN): Can Its 5.4% Jump Turn into More Strength?

Zacks Equity Research
·2-min read

AxoGen AXGN shares ended the last trading session 5.4% higher at $7.38. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 20.9% gain over the past four weeks.

Axogen scored a strong price increase driven by the optimism surrounding the company’s announcement of opening the Axogen Processing Center (APC) with leaders of the Ohio community on Jun 12, 2024. The new facility in Vandalia will process Axogen’s industry-leading Avance Nerve Graft as a biologic, positioning it for significant future expansion and growth.

This regenerative medicine company is expected to post quarterly loss of $0.06 per share in its upcoming report, which represents a year-over-year change of -100%. Revenues are expected to be $43.35 million, up 13.6% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

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For AxoGen, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AXGN going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

AxoGen is a member of the Zacks Medical - Instruments industry. One other stock in the same industry, Artivion AORT, finished the last trading session 0.6% higher at $23.40. AORT has returned 0.3% over the past month.

For Artivion , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.03. This represents a change of -50% from what the company reported a year ago. Artivion currently has a Zacks Rank of #3 (Hold).

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AxoGen, Inc. (AXGN) : Free Stock Analysis Report

Artivion, Inc. (AORT) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research