AxoGen’s (AXGN) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of AxoGen (NASDAQ:AXGN) in a research report sent to investors on Wednesday morning,Benzinga reports. Cantor Fitzgerald currently has a $24.00 price objective on the medical equipment provider’s stock.

Separately, Canaccord Genuity Group increased their price target on shares of AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $20.75.

AxoGen Price Performance

Shares of NASDAQ AXGN opened at $17.73 on Wednesday. AxoGen has a fifty-two week low of $5.55 and a fifty-two week high of $21.00. The company has a 50 day simple moving average of $17.90 and a two-hundred day simple moving average of $15.26. The company has a market capitalization of $786.22 million, a price-to-earnings ratio of -55.41 and a beta of 1.00. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74.

Insiders Place Their Bets

In other AxoGen news, Director Amy Mcbride Wendell sold 5,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $20.02, for a total value of $100,100.00. Following the transaction, the director now directly owns 97,899 shares in the company, valued at approximately $1,959,937.98. This trade represents a 4.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in AxoGen by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider’s stock worth $14,170,000 after acquiring an additional 31,612 shares during the period. FMR LLC raised its position in AxoGen by 743.1% in the third quarter. FMR LLC now owns 178,957 shares of the medical equipment provider’s stock worth $2,509,000 after acquiring an additional 157,730 shares during the period. Barclays PLC raised its position in AxoGen by 119.3% in the third quarter. Barclays PLC now owns 72,036 shares of the medical equipment provider’s stock worth $1,010,000 after acquiring an additional 39,182 shares during the period. State Street Corp raised its position in AxoGen by 11.9% in the third quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock worth $12,571,000 after acquiring an additional 95,051 shares during the period. Finally, Principal Financial Group Inc. bought a new position in AxoGen in the third quarter worth approximately $207,000. 80.29% of the stock is currently owned by institutional investors.

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.