Brokerages Set AxoGen, Inc. (NASDAQ:AXGN) Target Price at $20.75

AxoGen, Inc. (NASDAQ:AXGN) has been given an average recommendation of “Buy” by the five research firms that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have issued a report on the stock in the last year is $22.60.

A number of research analysts have recently weighed in on AXGN shares. Canaccord Genuity Group raised 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. Cantor Fitzgerald restated an “overweight” rating and set a $24.00 target price on shares of AxoGen in a report on Wednesday, March 5th. Finally, Lake Street Capital assumed coverage on AxoGen in a research report on Monday. They issued a “buy” rating and a $30.00 price target for the company.

Insider Activity

In related news, Director Amy Mcbride Wendell sold 5,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $20.02, for a total transaction of $100,100.00. Following the transaction, the director now owns 97,899 shares of the company’s stock, valued at approximately $1,959,937.98. The trade was a 4.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $264,442.50. Following the completion of the sale, the insider now owns 217,762 shares in the company, valued at $3,810,835. This represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by company insiders.

Institutional Trading of AxoGen

Several institutional investors have recently made changes to their positions in AXGN. Driehaus Capital Management LLC boosted its holdings in AxoGen by 166.0% during the fourth quarter. Driehaus Capital Management LLC now owns 954,439 shares of the medical equipment provider’s stock valued at $15,729,000 after purchasing an additional 595,579 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in AxoGen by 2,912.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider’s stock valued at $7,697,000 after buying an additional 530,775 shares in the last quarter. First Light Asset Management LLC grew its position in AxoGen by 10.2% in the fourth quarter. First Light Asset Management LLC now owns 4,506,795 shares of the medical equipment provider’s stock valued at $74,272,000 after acquiring an additional 416,499 shares during the period. Parkman Healthcare Partners LLC acquired a new position in AxoGen during the third quarter worth $5,789,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of AxoGen during the fourth quarter valued at $4,943,000. 80.29% of the stock is currently owned by institutional investors and hedge funds.

AxoGen Trading Up 1.5 %

Shares of NASDAQ AXGN opened at $17.90 on Monday. The stock has a market cap of $793.76 million, a price-to-earnings ratio of -55.94 and a beta of 1.02. The business has a 50 day simple moving average of $18.19 and a 200 day simple moving average of $15.58. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74. AxoGen has a 52 week low of $5.55 and a 52 week high of $21.00.

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.