AxoGen (NASDAQ:AXGN) Price Target Raised to $34.00 at Citizens Jmp

AxoGen (NASDAQ:AXGN) had its price target lifted by Citizens Jmp from $26.00 to $34.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a market outperform rating on the medical equipment provider’s stock.

Other equities analysts have also recently issued reports about the stock. HC Wainwright assumed coverage on shares of AxoGen in a research report on Tuesday, September 30th. They issued a “buy” rating and a $25.00 target price for the company. Wall Street Zen upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Citigroup reaffirmed a “market outperform” rating on shares of AxoGen in a report on Thursday. Jefferies Financial Group reaffirmed a “buy” rating on shares of AxoGen in a report on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AxoGen in a report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, AxoGen currently has an average rating of “Moderate Buy” and a consensus target price of $28.86.

AxoGen Price Performance

Shares of NASDAQ:AXGN opened at $22.68 on Thursday. The firm has a 50 day moving average of $17.00 and a 200-day moving average of $14.18. The stock has a market capitalization of $1.04 billion, a PE ratio of -453.60 and a beta of 1.04. The company has a current ratio of 4.14, a quick ratio of 2.67 and a debt-to-equity ratio of 0.59. AxoGen has a 12 month low of $9.22 and a 12 month high of $23.14.

Insider Activity

In related news, Director William P. Mr. Burke sold 1,457 shares of AxoGen stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $18.02, for a total transaction of $26,255.14. Following the sale, the director directly owned 100 shares of the company’s stock, valued at approximately $1,802. The trade was a 93.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 35,521 shares of company stock worth $642,219. Insiders own 2.78% of the company’s stock.

Institutional Investors Weigh In On AxoGen

A number of institutional investors have recently added to or reduced their stakes in the business. First Light Asset Management LLC grew its holdings in AxoGen by 1.2% during the 2nd quarter. First Light Asset Management LLC now owns 4,529,243 shares of the medical equipment provider’s stock worth $49,142,000 after acquiring an additional 55,028 shares during the last quarter. Vanguard Group Inc. grew its holdings in AxoGen by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 2,538,607 shares of the medical equipment provider’s stock worth $46,964,000 after acquiring an additional 112,679 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in AxoGen by 183.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider’s stock worth $20,953,000 after acquiring an additional 1,250,968 shares during the last quarter. Soleus Capital Management L.P. grew its holdings in AxoGen by 0.9% during the 2nd quarter. Soleus Capital Management L.P. now owns 1,459,395 shares of the medical equipment provider’s stock worth $15,834,000 after acquiring an additional 13,278 shares during the last quarter. Finally, Wasatch Advisors LP grew its holdings in AxoGen by 85.1% during the 2nd quarter. Wasatch Advisors LP now owns 1,433,782 shares of the medical equipment provider’s stock worth $15,557,000 after acquiring an additional 659,149 shares during the last quarter. 80.29% of the stock is owned by institutional investors.

About AxoGen

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.