AxoGen, Inc. (AXGN) Price Target Raised to $30.00
AxoGen, Inc. (NASDAQ:AXGN) had its price target hoisted by analysts at Leerink Swann from $26.00 to $30.00 in a research note issued to investors on Tuesday. The brokerage currently has an “outperform” rating on the medical equipment provider’s stock. Leerink Swann’s price target suggests a potential upside of 23.46% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the stock. BidaskClub cut shares of AxoGen from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Lake Street Capital increased their price objective on shares of AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday. Wedbush reissued a “buy” rating and issued a $27.00 target price (up from $22.00) on shares of AxoGen in a report on Tuesday. Roth Capital restated a “buy” rating and issued a $21.00 price target (up from $18.00) on shares of AxoGen in a research report on Tuesday, September 12th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $18.00 price target on shares of AxoGen in a research report on Monday, August 21st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $24.40.
AxoGen (NASDAQ AXGN) traded up $0.70 during trading hours on Tuesday, hitting $24.30. 322,000 shares of the stock were exchanged, compared to its average volume of 208,513. AxoGen has a 12-month low of $8.05 and a 12-month high of $25.15. The company has a current ratio of 3.55, a quick ratio of 2.95 and a debt-to-equity ratio of 1.93.
In other AxoGen news, Director Guido J. Neels sold 1,150,000 shares of AxoGen stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $19.74, for a total value of $22,701,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert James Rudelius sold 16,143 shares of AxoGen stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $18.00, for a total value of $290,574.00. Following the completion of the transaction, the director now owns 43,273 shares in the company, valued at approximately $778,914. The disclosure for this sale can be found here. Insiders own 9.33% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Pura Vida Investments LLC grew its stake in shares of AxoGen by 27.8% during the third quarter. Pura Vida Investments LLC now owns 229,278 shares of the medical equipment provider’s stock worth $4,437,000 after acquiring an additional 49,909 shares during the last quarter. Neuberger Berman Group LLC boosted its position in AxoGen by 133.3% in the third quarter. Neuberger Berman Group LLC now owns 28,000 shares of the medical equipment provider’s stock valued at $542,000 after buying an additional 16,000 shares during the last quarter. California Public Employees Retirement System boosted its position in AxoGen by 4.9% in the third quarter. California Public Employees Retirement System now owns 137,536 shares of the medical equipment provider’s stock valued at $2,661,000 after buying an additional 6,436 shares during the last quarter. Bamco Inc. NY purchased a new stake in AxoGen in the third quarter valued at approximately $3,443,000. Finally, Valeo Financial Advisors LLC purchased a new stake in AxoGen in the third quarter valued at approximately $244,000. Institutional investors and hedge funds own 67.89% of the company’s stock.
AxoGen Company Profile
AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The companys surgical nerve repair solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed 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 nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
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