AxoGen, Inc. (NASDAQ:AXGN) Receives $22.20 Average Price Target from Analysts

AxoGen, Inc. (NASDAQ:AXGN) has been assigned a consensus rating of “Buy” from the five analysts that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $22.20.

Several equities research analysts have weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $24.00 price objective on shares of AxoGen in a research note on Wednesday, March 5th. Lake Street Capital started coverage on AxoGen in a research note on Monday, March 17th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Canaccord Genuity Group cut their target price on AxoGen from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th.

AxoGen Trading Up 0.7%

AxoGen stock opened at $10.97 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. The stock has a market cap of $499.62 million, a P/E ratio of -34.28 and a beta of 1.19. The firm’s 50 day moving average price is $14.64 and its 200-day moving average price is $16.07. AxoGen has a 1 year low of $6.57 and a 1 year high of $21.00.

Insider Buying and Selling at AxoGen

In other news, insider Erick Wayne Devinney sold 15,111 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total value of $264,442.50. Following the completion of the sale, the insider now owns 217,762 shares of the company’s stock, valued at $3,810,835. This trade represents a 6.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph A. Tyndall sold 20,062 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $11.20, for a total value of $224,694.40. Following the completion of the sale, the director now directly owns 15,345 shares of the company’s stock, valued at approximately $171,864. This represents a 56.66% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.78% of the company’s stock.

Institutional Trading of AxoGen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Divisadero Street Capital Management LP lifted its holdings in shares of AxoGen by 2.7% during the fourth quarter. Divisadero Street Capital Management LP now owns 26,972 shares of the medical equipment provider’s stock worth $444,000 after purchasing an additional 700 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in AxoGen by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,128 shares of the medical equipment provider’s stock valued at $398,000 after acquiring an additional 926 shares during the period. Principal Financial Group Inc. lifted its stake in AxoGen by 8.3% during the 4th quarter. Principal Financial Group Inc. now owns 16,000 shares of the medical equipment provider’s stock valued at $264,000 after acquiring an additional 1,228 shares during the period. Hsbc Holdings PLC lifted its position in AxoGen by 6.5% during the first quarter. Hsbc Holdings PLC now owns 24,174 shares of the medical equipment provider’s stock valued at $432,000 after purchasing an additional 1,468 shares during the period. Finally, Rhumbline Advisers lifted its position in AxoGen by 2.7% during the fourth quarter. Rhumbline Advisers now owns 58,232 shares of the medical equipment provider’s stock valued at $960,000 after purchasing an additional 1,521 shares during the period. Institutional investors and hedge funds 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.