Analysts Set AxoGen, Inc. (NASDAQ:AXGN) Price Target at $35.56

Shares of AxoGen, Inc. (NASDAQ:AXGN) have received a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $35.5556.

A number of analysts have recently issued reports on AXGN shares. Lake Street Capital increased their price objective on shares of AxoGen from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. HC Wainwright raised their price target on AxoGen from $26.00 to $39.00 and gave the company a “buy” rating in a report on Friday, December 5th. Canaccord Genuity Group upped their price objective on AxoGen from $27.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of AxoGen in a research report on Monday, December 29th. Finally, JMP Securities set a $34.00 price target on AxoGen in a report on Thursday, October 30th.

AxoGen Stock Down 1.8%

AXGN stock opened at $33.90 on Thursday. The business’s 50-day moving average price is $32.48 and its 200-day moving average price is $23.47. The stock has a market cap of $1.56 billion, a P/E ratio of -678.00 and a beta of 1.00. The company has a quick ratio of 2.64, a current ratio of 4.09 and a debt-to-equity ratio of 0.54. AxoGen has a twelve month low of $9.22 and a twelve month high of $36.00.

Insiders Place Their Bets

In other AxoGen news, Director Kathy Johnson Weiler sold 46,653 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $29.55, for a total transaction of $1,378,596.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Marc A. Began sold 9,278 shares of AxoGen stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $31.21, for a total value of $289,566.38. Following the completion of the sale, the executive vice president directly owned 31,507 shares in the company, valued at approximately $983,333.47. The trade was a 22.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 301,680 shares of company stock worth $9,174,052. 2.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AxoGen

Several large investors have recently modified their holdings of the stock. Future Financial Wealth Managment LLC bought a new position in AxoGen during the third quarter valued at $27,000. MCF Advisors LLC purchased a new position in AxoGen in the 4th quarter worth about $30,000. Aquatic Capital Management LLC increased its stake in AxoGen by 287.8% in the 3rd quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 1,269 shares during the period. State of Alaska Department of Revenue purchased a new position in AxoGen in the 3rd quarter worth about $43,000. Finally, Tower Research Capital LLC TRC lifted its holdings in AxoGen by 189.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,079 shares of the medical equipment provider’s stock valued at $55,000 after buying an additional 3,327 shares in the last quarter. Institutional investors own 80.29% of the company’s stock.

About AxoGen

AxoGen, Inc is a Florida-based medical technology company that develops and commercializes surgical solutions for peripheral nerve damage. Founded in 2002 and headquartered in Alachua, Florida, the company focuses on restoring nerve function and improving patient outcomes through innovative biologic and engineered products. AxoGen’s offerings address a range of traumatic and iatrogenic injuries, offering alternatives to traditional nerve autografts.

The company’s core product portfolio includes the Avance® Nerve Graft, a decellularized human nerve allograft designed to bridge nerve gaps without the need for a secondary harvest site, and the Axoguard® Nerve Connector and Protector devices, which facilitate nerve coaptation and protect repaired sites from surrounding scar tissue.