AxoGen (NASDAQ:AXGN) Coverage Initiated at HC Wainwright

Research analysts at HC Wainwright started coverage on shares of AxoGen (NASDAQ:AXGN) in a report issued on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $25.00 price target on the medical equipment provider’s stock. HC Wainwright’s price target suggests a potential upside of 39.90% from the stock’s current price.

Separately, Wall Street Zen raised AxoGen from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $25.75.

AxoGen Stock Up 0.2%

AXGN opened at $17.87 on Tuesday. The business has a 50 day moving average price of $15.50 and a two-hundred day moving average price of $14.18. The company has a quick ratio of 2.67, a current ratio of 4.14 and a debt-to-equity ratio of 0.59. The company has a market cap of $822.20 million, a PE ratio of -178.68 and a beta of 1.04. AxoGen has a 52 week low of $9.22 and a 52 week high of $21.00.

Institutional Investors Weigh In On AxoGen

Several hedge funds have recently made changes to their positions in AXGN. Tower Research Capital LLC TRC raised its position in AxoGen by 189.9% in the second quarter. Tower Research Capital LLC TRC now owns 5,079 shares of the medical equipment provider’s stock valued at $55,000 after purchasing an additional 3,327 shares during the period. AlphaQuest LLC increased its position in shares of AxoGen by 882.2% during the second quarter. AlphaQuest LLC now owns 6,276 shares of the medical equipment provider’s stock worth $68,000 after acquiring an additional 5,637 shares during the last quarter. State of Wyoming acquired a new position in AxoGen in the second quarter worth about $69,000. PNC Financial Services Group Inc. grew its stake in AxoGen by 120.2% in the second quarter. PNC Financial Services Group Inc. now owns 8,077 shares of the medical equipment provider’s stock worth $88,000 after purchasing an additional 4,409 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new position in AxoGen in the first quarter worth about $92,000. 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.