AxoGen, Inc. (NASDAQ:AXGN) Receives Average Recommendation of "Buy" from Analysts

Shares of AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) have received an average rating of "Buy" from the five research firms that are covering the company, Marketbeat reports. Five analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $22.60.

A number of analysts have recently issued reports on AXGN shares. Lake Street Capital began coverage on AxoGen in a research report on Monday, March 17th. They set a "buy" rating and a $30.00 price objective on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $24.00 target price on shares of AxoGen in a research report on Wednesday, March 5th. Finally, Canaccord Genuity Group upped their price target on AxoGen from $22.00 to $26.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th.

Insider Activity at AxoGen

In related news, insider Erick Wayne Devinney sold 15,111 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total value 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. The trade was a 6.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Amy Mcbride Wendell sold 5,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $20.02, for a total value of $100,100.00. Following the transaction, the director now owns 97,899 shares of the company's stock, valued at approximately $1,959,937.98. This trade represents a 4.86 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Fifth Third Bancorp bought a new stake in AxoGen in the 1st quarter valued at approximately $92,000. Assenagon Asset Management S.A. raised its holdings in shares of AxoGen by 21.1% in the first 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 purchasing an additional 174,681 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of AxoGen by 74.8% in the first quarter. SG Americas Securities LLC now owns 38,035 shares of the medical equipment provider's stock worth $704,000 after purchasing an additional 16,272 shares in the last quarter. Rhumbline Advisers boosted its holdings in AxoGen by 3.5% during the first quarter. Rhumbline Advisers now owns 60,264 shares of the medical equipment provider's stock worth $1,115,000 after purchasing an additional 2,032 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in AxoGen by 3,884.6% in the first quarter. GAMMA Investing LLC now owns 5,698 shares of the medical equipment provider's stock valued at $105,000 after purchasing an additional 5,555 shares in the last quarter. 80.29% of the stock is owned by institutional investors and hedge funds.

AxoGen Stock Performance

NASDAQ:AXGN traded down $0.10 during mid-day trading on Friday, hitting $15.56. 36,775 shares of the company's stock traded hands, compared to its average volume of 534,216. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67. The firm has a 50 day moving average of $17.78 and a two-hundred day moving average of $16.08. The firm has a market capitalization of $689.77 million, a price-to-earnings ratio of -48.61 and a beta of 1.00. AxoGen has a 12 month low of $5.55 and a 12 month high of $21.00.

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.