Lake Street Capital Begins Coverage on AxoGen (NASDAQ:AXGN)

Equities researchers at Lake Street Capital began coverage on shares of AxoGen (NASDAQ:AXGN) in a report released on Monday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $30.00 price target on the medical equipment provider’s stock. Lake Street Capital’s target price would indicate a potential upside of 73.91% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the company. Canaccord Genuity Group upped their price target on AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $24.00 target price on shares of AxoGen in a research report on Wednesday, March 5th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, AxoGen has a consensus rating of “Buy” and a consensus price target of $22.60.

AxoGen Trading Up 0.5 %

Shares of NASDAQ:AXGN opened at $17.25 on Monday. The business has a 50 day moving average of $18.01 and a two-hundred day moving average of $15.50. AxoGen has a 12-month low of $5.55 and a 12-month high of $21.00. The company has a market capitalization of $764.93 million, a PE ratio of -53.91 and a beta of 1.02. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67.

Insider Buying and Selling

In other AxoGen news, Director Amy Mcbride Wendell sold 5,000 shares of the firm’s 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 of the company’s stock, valued at $1,959,937.98. This trade represents a 4.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On AxoGen

Institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC raised its stake in AxoGen by 23,066.7% during the third quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 2,076 shares during the period. R Squared Ltd purchased a new stake in shares of AxoGen during the 4th quarter valued at approximately $30,000. US Bancorp DE purchased a new position in AxoGen in the fourth quarter worth approximately $30,000. State of Wyoming acquired a new stake in AxoGen during the fourth quarter worth $31,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in AxoGen in the fourth quarter valued at $93,000. Hedge funds and other institutional investors 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.