AxoGen (NASDAQ:AXGN) Research Coverage Started at Lake Street Capital

Lake Street Capital assumed coverage on shares of AxoGen (NASDAQ:AXGN) in a research report released on Monday, MarketBeat.com reports. The firm issued a buy rating and a $30.00 price target on the medical equipment provider’s stock.

A number of other research analysts have also recently weighed in on AXGN. Canaccord Genuity Group lifted their target price on shares of AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $24.00 price objective on shares of AxoGen in a research report on Wednesday, March 5th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $22.60.

AxoGen Price Performance

Shares of NASDAQ:AXGN opened at $17.90 on Monday. The company has a market capitalization of $793.76 million, a P/E ratio of -55.94 and a beta of 1.02. AxoGen has a 1-year low of $5.55 and a 1-year high of $21.00. The firm’s 50 day simple moving average is $18.19 and its two-hundred day simple moving average is $15.58. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47.

Insider Buying and Selling at AxoGen

In other news, Director Amy Mcbride Wendell sold 5,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $20.02, for a total transaction of $100,100.00. Following the completion of the transaction, the director now directly owns 97,899 shares in the company, valued at approximately $1,959,937.98. This represents a 4.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Erick Wayne Devinney sold 15,111 shares of AxoGen stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total transaction of $264,442.50. Following the completion of the transaction, the insider now directly owns 217,762 shares of the company’s stock, valued at $3,810,835. The trade was a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AxoGen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AXGN. Squarepoint Ops LLC increased its position in shares of AxoGen by 86.7% during the 4th quarter. Squarepoint Ops LLC now owns 55,668 shares of the medical equipment provider’s stock valued at $917,000 after purchasing an additional 25,853 shares during the last quarter. State of Wyoming purchased a new position in shares of AxoGen during the fourth quarter valued at approximately $31,000. ProShare Advisors LLC purchased a new position in AxoGen during the 4th quarter valued at $197,000. Nicholas Investment Partners LP grew its position in AxoGen by 49.9% in the 4th quarter. Nicholas Investment Partners LP now owns 295,554 shares of the medical equipment provider’s stock valued at $4,871,000 after acquiring an additional 98,419 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in AxoGen by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,128 shares of the medical equipment provider’s stock worth $398,000 after purchasing an additional 926 shares during the period. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

AxoGen Company Profile

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company’s products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed peripheral nerves; AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.