AxoGen (NASDAQ:AXGN) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of AxoGen (NASDAQ:AXGNFree Report) from a hold rating to a buy rating in a report released on Friday.

Several other brokerages have also commented on AXGN. Cantor Fitzgerald reiterated an overweight rating and issued a $12.00 target price on shares of AxoGen in a research report on Friday, January 19th. Canaccord Genuity Group reiterated a buy rating and issued a $11.00 target price on shares of AxoGen in a research report on Thursday, December 7th. Finally, SVB Leerink initiated coverage on AxoGen in a research report on Monday, October 16th. They issued an outperform rating and a $9.00 target price for the company. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, AxoGen presently has a consensus rating of Buy and an average price target of $13.00.

Read Our Latest Stock Analysis on AXGN

AxoGen Price Performance

Shares of NASDAQ AXGN opened at $10.04 on Friday. AxoGen has a fifty-two week low of $3.45 and a fifty-two week high of $10.62. The business has a 50 day moving average price of $8.15 and a two-hundred day moving average price of $6.48. The company has a quick ratio of 2.42, a current ratio of 3.28 and a debt-to-equity ratio of 0.68. The firm has a market cap of $431.72 million, a PE ratio of -17.93 and a beta of 1.07.

Insider Buying and Selling

In related news, CFO Peter J. Mariani sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $7.50, for a total value of $93,750.00. Following the sale, the chief financial officer now owns 63,603 shares of the company’s stock, valued at approximately $477,022.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 7.21% of the company’s stock.

Institutional Trading of AxoGen

Hedge funds have recently added to or reduced their stakes in the business. M&T Bank Corp raised its stake in AxoGen by 28.7% during the 3rd quarter. M&T Bank Corp now owns 48,036 shares of the medical equipment provider’s stock valued at $240,000 after acquiring an additional 10,698 shares in the last quarter. Panagora Asset Management Inc. raised its stake in AxoGen by 171.6% during the 3rd quarter. Panagora Asset Management Inc. now owns 97,460 shares of the medical equipment provider’s stock valued at $487,000 after acquiring an additional 61,578 shares in the last quarter. SG Americas Securities LLC bought a new stake in AxoGen during the 3rd quarter valued at $51,000. Bank of Montreal Can bought a new stake in AxoGen during the 2nd quarter valued at $1,865,000. Finally, Exchange Traded Concepts LLC raised its stake in AxoGen by 19.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 107,666 shares of the medical equipment provider’s stock valued at $538,000 after acquiring an additional 17,482 shares in the last quarter. Institutional investors own 83.77% of the company’s stock.

AxoGen Company Profile

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AxoGen, Inc, together with its subsidiaries, develops and markets 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; and 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.

Further Reading

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