AxoGen, Inc. (NASDAQ:AXGN) Receives $20.75 Average PT from Analysts

Shares of AxoGen, Inc. (NASDAQ:AXGN) have received a consensus rating of “Buy” from the five brokerages that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have issued a report on the stock in the last year is $22.60.

A number of equities research analysts recently issued reports on AXGN shares. Canaccord Genuity Group boosted their target price on shares of AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Cantor Fitzgerald reiterated an “overweight” rating and set a $24.00 price objective on shares of AxoGen in a research note on Wednesday, March 5th. Finally, Lake Street Capital assumed coverage on shares of AxoGen in a research note on Monday, March 17th. They issued a “buy” rating and a $30.00 target price for the company.

Insider Activity at AxoGen

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

Institutional Trading of AxoGen

Several hedge funds and other institutional investors have recently modified their holdings of AXGN. Geode Capital Management LLC raised its holdings in AxoGen by 3.2% during the third quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider’s stock valued at $14,170,000 after buying an additional 31,612 shares in the last quarter. FMR LLC raised its holdings in AxoGen by 743.1% during the third quarter. FMR LLC now owns 178,957 shares of the medical equipment provider’s stock valued at $2,509,000 after buying an additional 157,730 shares in the last quarter. Barclays PLC raised its holdings in AxoGen by 119.3% during the third quarter. Barclays PLC now owns 72,036 shares of the medical equipment provider’s stock valued at $1,010,000 after buying an additional 39,182 shares in the last quarter. State Street Corp raised its holdings in AxoGen by 11.9% during the third quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock valued at $12,571,000 after buying an additional 95,051 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new position in AxoGen during the third quarter valued at about $207,000. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

AxoGen Stock Performance

NASDAQ:AXGN opened at $17.72 on Monday. The firm has a 50 day simple moving average of $18.24 and a 200-day simple moving average of $15.67. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. The firm has a market cap of $785.78 million, a PE ratio of -55.38 and a beta of 1.02. AxoGen has a 1-year low of $5.55 and a 1-year high of $21.00.

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.