AxoGen (NASDAQ:AXGN) Rating Increased to Strong-Buy at Wells Fargo & Company

AxoGen (NASDAQ:AXGN) was upgraded by research analysts at Wells Fargo & Company to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other analysts have also issued reports on AXGN. Citigroup reaffirmed a “market outperform” rating on shares of AxoGen in a research note on Thursday, October 30th. Citizens Jmp set a $34.00 price objective on shares of AxoGen in a report on Thursday, October 30th. HC Wainwright lifted their price target on AxoGen from $26.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Wall Street Zen raised shares of AxoGen from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Finally, Jefferies Financial Group lifted their target price on shares of AxoGen from $29.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.22.

AxoGen Stock Performance

NASDAQ AXGN opened at $35.01 on Thursday. The stock has a market capitalization of $1.61 billion, a PE ratio of -700.20 and a beta of 1.00. AxoGen has a 1 year low of $9.22 and a 1 year high of $36.00. The company’s 50 day simple moving average is $32.81 and its two-hundred day simple moving average is $24.26. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.09 and a quick ratio of 2.64.

Insider Activity

In other AxoGen news, Director Paul Thomas sold 21,399 shares of AxoGen stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $29.61, for a total value of $633,624.39. Following the sale, the director directly owned 13,528 shares in the company, valued at approximately $400,564.08. The trade was a 61.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Amy Mcbride Wendell sold 43,684 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $29.31, for a total value of $1,280,378.04. Following the completion of the sale, the director owned 93,826 shares in the company, valued at $2,750,040.06. This represents a 31.77% decrease in their ownership of the stock. 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 valued at $9,174,052. Company insiders own 2.78% of the company’s stock.

Hedge Funds Weigh In On AxoGen

A number of institutional investors and hedge funds have recently modified their holdings of AXGN. 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 stake in AxoGen in the 4th quarter worth about $30,000. Aquatic Capital Management LLC lifted its stake in AxoGen by 287.8% in the third quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock worth $31,000 after purchasing an additional 1,269 shares during the last quarter. Arax Advisory Partners boosted its position in shares of AxoGen by 362.4% during the fourth quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 819 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of AxoGen during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 80.29% of the company’s stock.

AxoGen Company Profile

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.