AxoGen, Inc. (NASDAQ:AXGN) Receives $25.75 Average Price Target from Brokerages

AxoGen, Inc. (NASDAQ:AXGN) has earned an average rating of “Moderate Buy” from the nine research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $28.8571.

AXGN has been the topic of several analyst reports. Citigroup restated a “market outperform” rating on shares of AxoGen in a research note on Thursday. Citizens Jmp increased their price target on shares of AxoGen from $26.00 to $34.00 and gave the stock a “market outperform” rating in a research note on Thursday. JMP Securities set a $34.00 price target on shares of AxoGen in a research note on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of AxoGen in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th.

AxoGen Stock Performance

Shares of AXGN opened at $22.68 on Tuesday. The company’s fifty day moving average is $17.00 and its 200-day moving average is $14.18. AxoGen has a 12 month low of $9.22 and a 12 month high of $23.14. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -453.60 and a beta of 1.04. The company has a quick ratio of 2.67, a current ratio of 4.14 and a debt-to-equity ratio of 0.59.

Insider Transactions at AxoGen

In related news, Director William P. Mr. Burke sold 14,571 shares of the firm’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $18.21, for a total value of $265,337.91. Following the transaction, the director directly owned 2,293 shares in the company, valued at approximately $41,755.53. This trade represents a 86.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have sold 35,521 shares of company stock valued at $642,219. Company insiders own 2.78% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AXGN. Balyasny Asset Management L.P. grew its stake in AxoGen by 183.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider’s stock valued at $20,953,000 after buying an additional 1,250,968 shares during the last quarter. Wasatch Advisors LP grew its position in AxoGen by 85.1% in the 2nd quarter. Wasatch Advisors LP now owns 1,433,782 shares of the medical equipment provider’s stock worth $15,557,000 after purchasing an additional 659,149 shares during the last quarter. Armistice Capital LLC grew its position in AxoGen by 106.5% in the 2nd quarter. Armistice Capital LLC now owns 1,111,319 shares of the medical equipment provider’s stock worth $12,058,000 after purchasing an additional 573,041 shares during the last quarter. Invesco Ltd. grew its position in AxoGen by 2,124.5% in the 1st quarter. Invesco Ltd. now owns 382,429 shares of the medical equipment provider’s stock worth $7,075,000 after purchasing an additional 365,237 shares during the last quarter. Finally, Squarepoint Ops LLC grew its position in AxoGen by 259.2% in the 2nd quarter. Squarepoint Ops LLC now owns 483,563 shares of the medical equipment provider’s stock worth $5,247,000 after purchasing an additional 348,950 shares during the last quarter. 80.29% of the stock is currently owned by institutional investors and hedge funds.

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.