AxoGen, Inc. (NASDAQ:AXGN) Given Average Rating of "Buy" by Brokerages

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) has earned an average recommendation of "Buy" from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $22.60.

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

AxoGen Trading Down 1.8 %

AXGN stock traded down $0.32 during midday trading on Monday, reaching $17.72. 460,457 shares of the company's stock traded hands, compared to its average volume of 398,444. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. AxoGen has a fifty-two week low of $5.55 and a fifty-two week high of $21.00. The business has a 50-day moving average price of $18.25 and a two-hundred day moving average price of $15.60. The company has a market capitalization of $785.78 million, a P/E ratio of -55.38 and a beta of 1.02.

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Insider Activity

In other news, Director Amy Mcbride Wendell sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 97,899 shares in the company, valued at approximately $1,959,937.98. This represents a 4.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Erick Wayne Devinney sold 15,111 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was 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 $3,810,835. The trade was a 6.49 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.00% of the company's stock.

Institutional Investors Weigh In On AxoGen

Several hedge funds and other institutional investors have recently modified their holdings of the stock. First Light Asset Management LLC grew its stake in AxoGen by 10.2% in 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 in the last quarter. Geode Capital Management LLC lifted 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 buying an additional 31,612 shares during the last quarter. Driehaus Capital Management LLC lifted its holdings in AxoGen by 166.0% during the 4th quarter. Driehaus Capital Management LLC now owns 954,439 shares of the medical equipment provider's stock worth $15,729,000 after buying an additional 595,579 shares during the last quarter. State Street Corp grew its position in shares of AxoGen by 11.9% in the 3rd quarter. State Street Corp now owns 896,674 shares of the medical equipment provider's stock worth $12,571,000 after acquiring an additional 95,051 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of AxoGen by 13.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 772,752 shares of the medical equipment provider's stock valued at $12,735,000 after acquiring an additional 91,984 shares during the last quarter. Institutional investors own 80.29% of the company's stock.

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.