Brokerages Set AxoGen, Inc. (NASDAQ:AXGN) Target Price at $22.60

AxoGen, Inc. (NASDAQ:AXGN) has been given an average rating of “Buy” by the five research firms that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $22.60.

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

Insider Buying and Selling at AxoGen

In other AxoGen news, insider Erick Wayne Devinney sold 15,111 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total transaction of $264,442.50. Following the sale, the insider now directly owns 217,762 shares of the company’s stock, valued at approximately $3,810,835. This represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amy Mcbride Wendell sold 5,000 shares of AxoGen stock in a transaction that occurred on Monday, March 3rd. The shares were 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 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 disclosure for this sale can be found here. Company insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On AxoGen

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Light Asset Management LLC grew its holdings in shares of AxoGen by 10.2% during the fourth quarter. First Light Asset Management LLC now owns 4,506,795 shares of the medical equipment provider’s stock worth $74,272,000 after purchasing an additional 416,499 shares during the last quarter. Geode Capital Management LLC grew its holdings in AxoGen by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider’s stock worth $14,170,000 after acquiring an additional 31,612 shares during the last quarter. Assenagon Asset Management S.A. increased its position in AxoGen by 21.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,001,217 shares of the medical equipment provider’s stock valued at $18,523,000 after acquiring an additional 174,681 shares in the last quarter. Driehaus Capital Management LLC raised its stake in shares of AxoGen by 166.0% in the fourth quarter. Driehaus Capital Management LLC now owns 954,439 shares of the medical equipment provider’s stock worth $15,729,000 after acquiring an additional 595,579 shares during the last quarter. Finally, State Street Corp lifted its position in shares of AxoGen by 11.9% during the third quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock worth $12,571,000 after purchasing an additional 95,051 shares in the last quarter. 80.29% of the stock is owned by institutional investors and hedge funds.

AxoGen Price Performance

Shares of AxoGen stock opened at $15.57 on Friday. The firm has a fifty day moving average price of $17.69 and a two-hundred day moving average price of $16.09. AxoGen has a fifty-two week low of $5.55 and a fifty-two week high of $21.00. 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 company has a market cap of $690.44 million, a PE ratio of -48.66 and a beta of 1.00.

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.