AxoGen (NASDAQ:AXGN) Earns Buy Rating from Analysts at Lake Street Capital

Equities research analysts at Lake Street Capital began coverage on shares of AxoGen (NASDAQ:AXGN - Get Free Report) in a note issued to investors on Monday, MarketBeat reports. The brokerage set a "buy" rating and a $30.00 price target on the medical equipment provider's stock. Lake Street Capital's price target would suggest a potential upside of 69.30% from the company's previous close.

Several other research analysts also recently commented on the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $24.00 price objective on shares of AxoGen in a report on Wednesday, March 5th. Canaccord Genuity Group raised their price target on AxoGen from $22.00 to $26.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $22.60.

AxoGen Price Performance

Shares of AXGN stock traded down $0.32 during trading hours on Monday, hitting $17.72. 460,457 shares of the company's stock were exchanged, compared to its average volume of 398,444. AxoGen has a 12-month low of $5.55 and a 12-month high of $21.00. The company has a market capitalization of $785.78 million, a PE ratio of -55.38 and a beta of 1.02. The business's 50 day simple moving average is $18.25 and its 200-day simple moving average is $15.60. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67.

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Insider Buying and Selling at AxoGen

In other AxoGen 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 transaction of $264,442.50. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy Mcbride Wendell sold 5,000 shares of the company's stock in a transaction 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 owns 97,899 shares of the company's stock, valued at $1,959,937.98. This trade represents a 4.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. R Squared Ltd bought a new stake in shares of AxoGen during the fourth quarter valued at approximately $30,000. US Bancorp DE purchased a new position in AxoGen during the fourth quarter valued at $30,000. State of Wyoming bought a new stake in shares of AxoGen during the 4th quarter valued at $31,000. Quest Partners LLC grew its position in shares of AxoGen by 23,066.7% in the 3rd quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider's stock worth $29,000 after buying an additional 2,076 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of AxoGen in the 4th quarter worth about $93,000. Hedge funds and other institutional investors own 80.29% of the company's stock.

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.