AxoGen, Inc. (NASDAQ:AXGN) Given Consensus Rating of “Buy” by Brokerages

Shares of AxoGen, Inc. (NASDAQ:AXGN) have earned a consensus rating of “Buy” from the four brokerages that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $20.75.

Several brokerages have commented on AXGN. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $24.00 target price on shares of AxoGen in a report on Wednesday, March 5th. Canaccord Genuity Group lifted their target price on AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Finally, Lake Street Capital began coverage on AxoGen in a report on Monday. They set a “buy” rating and a $30.00 target price on the stock.

AxoGen Trading Up 0.8 %

AXGN traded up $0.13 during midday trading on Monday, hitting $17.38. 12,653 shares of the company were exchanged, compared to its average volume of 536,552. The firm has a market capitalization of $770.70 million, a P/E ratio of -54.38 and a beta of 1.02. AxoGen has a 1-year low of $5.55 and a 1-year high of $21.00. The firm’s 50 day moving average price is $18.01 and its 200-day moving average price is $15.50. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67.

Insider Activity

In related news, Director Amy Mcbride Wendell sold 5,000 shares of the company’s 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 transaction, the director now directly owns 97,899 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 7.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AXGN. Principal Financial Group Inc. acquired a new position in AxoGen during the 3rd quarter worth approximately $207,000. Los Angeles Capital Management LLC bought a new stake in AxoGen during the 3rd quarter worth approximately $279,000. Oppenheimer & Co. Inc. bought a new stake in AxoGen during the 3rd quarter worth approximately $156,000. Quest Partners LLC increased its holdings in AxoGen by 23,066.7% during the 3rd quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 2,076 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in AxoGen by 66.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 308,686 shares of the medical equipment provider’s stock worth $4,328,000 after purchasing an additional 123,118 shares in the last quarter. 80.29% of the stock is owned by institutional investors and hedge funds.

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.