AxoGen, Inc. (NASDAQ:AXGN) Given Consensus Recommendation of “Buy” by Brokerages

Shares of AxoGen, Inc. (NASDAQ:AXGN) have received an average recommendation of “Buy” from the five ratings firms that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $22.60.

AXGN has been the subject of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $24.00 target price on shares of AxoGen in a research report on Wednesday, March 5th. Canaccord Genuity Group lifted their price target on shares of AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Finally, Lake Street Capital started coverage on shares of AxoGen in a research note on Monday, March 17th. They set a “buy” rating and a $30.00 price target for the company.

AxoGen Stock Down 1.8 %

Shares of NASDAQ:AXGN opened at $17.72 on Monday. AxoGen has a 1 year low of $5.55 and a 1 year high of $21.00. The business has a 50 day simple moving average of $18.24 and a two-hundred day simple moving average of $15.67. The firm has a market capitalization of $785.78 million, a PE ratio of -55.38 and a beta of 1.02. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47.

Insider Buying and Selling

In other AxoGen news, insider Erick Wayne Devinney sold 15,111 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total value of $264,442.50. Following the completion of the sale, the insider now owns 217,762 shares in the company, valued at approximately $3,810,835. This represents a 6.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy Mcbride Wendell sold 5,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $20.02, for a total transaction of $100,100.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On AxoGen

A number of hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. acquired a new stake in shares of AxoGen in the 3rd quarter valued at $207,000. Los Angeles Capital Management LLC purchased a new position in AxoGen during the 3rd quarter worth $279,000. Oppenheimer & Co. Inc. purchased a new position in AxoGen during the 3rd quarter worth $156,000. Quest Partners LLC grew its position in AxoGen by 23,066.7% during the 3rd 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 last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in AxoGen by 66.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 308,686 shares of the medical equipment provider’s stock worth $4,328,000 after purchasing an additional 123,118 shares during the last quarter. 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.