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AxoGen (AXGN) Soars 8.2%: Is Further Upside Left in the Stock?
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AxoGen (AXGN - Free Report) shares ended the last trading session 8.2% higher at $8.33. 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 4.5% loss over the past four weeks.
Axogen scored a strong price increase, driven by the optimism surrounding the launch of its latest nerve protection solution, Avive+ Soft Tissue Matrix, last month. Besides, the company is expected to release its second-quarter 2024 results in August. In the first quarter, it reported an adjusted loss of 6 cents per share, narrower than the Zacks Consensus Estimate by 40%.
This regenerative medicine company is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of -66.7%. Revenues are expected to be $43.27 million, up 13.4% 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.
For AxoGen, the consensus EPS estimate for the quarter has been revised 7.3% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. 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.
AxoGen belongs to the Zacks Medical - Instruments industry. Another stock from the same industry, Veracyte (VCYT - Free Report) , closed the last trading session 4.9% higher at $22.57. Over the past month, VCYT has returned -2.5%.
Veracyte's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.03. Compared to the company's year-ago EPS, this represents a change of +75%. Veracyte currently boasts a Zacks Rank of #1 (Strong Buy).
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AxoGen (AXGN) Soars 8.2%: Is Further Upside Left in the Stock?
AxoGen (AXGN - Free Report) shares ended the last trading session 8.2% higher at $8.33. 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 4.5% loss over the past four weeks.
Axogen scored a strong price increase, driven by the optimism surrounding the launch of its latest nerve protection solution, Avive+ Soft Tissue Matrix, last month. Besides, the company is expected to release its second-quarter 2024 results in August. In the first quarter, it reported an adjusted loss of 6 cents per share, narrower than the Zacks Consensus Estimate by 40%.
This regenerative medicine company is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of -66.7%. Revenues are expected to be $43.27 million, up 13.4% 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.
For AxoGen, the consensus EPS estimate for the quarter has been revised 7.3% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. 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 belongs to the Zacks Medical - Instruments industry. Another stock from the same industry, Veracyte (VCYT - Free Report) , closed the last trading session 4.9% higher at $22.57. Over the past month, VCYT has returned -2.5%.
Veracyte's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.03. Compared to the company's year-ago EPS, this represents a change of +75%. Veracyte currently boasts a Zacks Rank of #1 (Strong Buy).