AxoGen (NASDAQ:AXGN) Coverage Initiated at Wells Fargo & Company

Equities researchers at Wells Fargo & Company started coverage on shares of AxoGen (NASDAQ:AXGN) in a research report issued on Thursday, Marketbeat.com reports. The firm set an “overweight” rating and a $40.00 price target on the medical equipment provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 13.31% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AxoGen in a research note on Monday, December 29th. Citigroup reaffirmed a “market outperform” rating on shares of AxoGen in a research note on Thursday, October 30th. Wall Street Zen raised AxoGen from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Canaccord Genuity Group increased their target price on AxoGen from $27.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Finally, Raymond James Financial reissued an “outperform” rating and set a $36.00 target price on shares of AxoGen in a research report on Thursday, December 4th. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $36.22.

AxoGen Stock Performance

Shares of AXGN opened at $35.30 on Thursday. The company has a market cap of $1.63 billion, a price-to-earnings ratio of -706.00 and a beta of 1.00. The business’s fifty day simple moving average is $32.91 and its two-hundred day simple moving average is $24.42. AxoGen has a 12 month low of $9.22 and a 12 month high of $36.00. The company has a current ratio of 4.09, a quick ratio of 2.64 and a debt-to-equity ratio of 0.54.

Insider Buying and Selling at AxoGen

In other AxoGen news, Director John Johnson sold 23,693 shares of the stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $31.24, for a total transaction of $740,169.32. Following the completion of the transaction, the director owned 13,141 shares of the company’s stock, valued at $410,524.84. This trade represents a 64.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kathy Johnson Weiler sold 46,653 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $29.55, for a total value of $1,378,596.15. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 301,680 shares of company stock worth $9,174,052. Insiders own 2.78% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in AxoGen by 14.2% in the 1st quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock valued at $704,000 after purchasing an additional 4,723 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of AxoGen by 45.3% during the first quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider’s stock worth $442,000 after buying an additional 7,453 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in AxoGen by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock valued at $466,000 after acquiring an additional 1,057 shares during the last quarter. Jones Financial Companies Lllp lifted its position in AxoGen by 104,810.0% during the 1st quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider’s stock worth $194,000 after acquiring an additional 10,481 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in AxoGen during the 2nd quarter worth approximately $118,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

AxoGen Company Profile

AxoGen, Inc is a Florida-based medical technology company that develops and commercializes surgical solutions for peripheral nerve damage. Founded in 2002 and headquartered in Alachua, Florida, the company focuses on restoring nerve function and improving patient outcomes through innovative biologic and engineered products. AxoGen’s offerings address a range of traumatic and iatrogenic injuries, offering alternatives to traditional nerve autografts.

The company’s core product portfolio includes the Avance® Nerve Graft, a decellularized human nerve allograft designed to bridge nerve gaps without the need for a secondary harvest site, and the Axoguard® Nerve Connector and Protector devices, which facilitate nerve coaptation and protect repaired sites from surrounding scar tissue.