AxoGen (NASDAQ:AXGN) Price Target Raised to $26.00 at Canaccord Genuity Group

AxoGen (NASDAQ:AXGN - Get Free Report) had its price target raised by analysts at Canaccord Genuity Group from $22.00 to $26.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the medical equipment provider's stock. Canaccord Genuity Group's price target would suggest a potential upside of 29.94% from the company's current price.

AxoGen Trading Up 3.0 %

Shares of AXGN traded up $0.58 during mid-day trading on Wednesday, reaching $20.01. The stock had a trading volume of 1,169,850 shares, compared to its average volume of 542,278. 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 52-week low of $5.55 and a 52-week high of $21.00. The business's fifty day moving average is $17.75 and its 200 day moving average is $15.08. The firm has a market cap of $880.60 million, a price-to-earnings ratio of -62.53 and a beta of 1.00.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. First Light Asset Management LLC boosted its stake in 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 buying an additional 416,499 shares during the period. Geode Capital Management LLC boosted its stake in AxoGen by 3.2% during the third 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 period. Driehaus Capital Management LLC boosted its stake in AxoGen by 166.0% during the fourth 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 period. State Street Corp boosted its stake in 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 buying an additional 95,051 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in AxoGen by 13.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 772,752 shares of the medical equipment provider's stock worth $12,735,000 after buying an additional 91,984 shares during the period. Hedge funds and other 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.