Raymond James Financial Issues Positive Forecast for AxoGen (NASDAQ:AXGN) Stock Price

AxoGen (NASDAQ:AXGN) had its price target boosted by Raymond James Financial from $20.00 to $27.00 in a research report released on Thursday,Benzinga reports. Raymond James Financial currently has an outperform rating on the medical equipment provider’s stock.

Several other equities research analysts have also issued reports on AXGN. Weiss Ratings reiterated a “sell (d-)” rating on shares of AxoGen in a research report on Wednesday, October 8th. Citizens Jmp lifted their target price on shares of AxoGen from $26.00 to $34.00 and gave the company a “market outperform” rating in a research report on Thursday. Canaccord Genuity Group lifted their target price on shares of AxoGen from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday. HC Wainwright began coverage on shares of AxoGen in a research report on Tuesday, September 30th. They set a “buy” rating and a $25.00 target price for the company. Finally, Citigroup reiterated a “market outperform” rating on shares of AxoGen in a research report on Thursday. Eight analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, AxoGen has a consensus rating of “Moderate Buy” and an average price target of $28.86.

AxoGen Trading Up 1.9%

Shares of AxoGen stock opened at $22.68 on Thursday. AxoGen has a 1 year low of $9.22 and a 1 year high of $23.14. The firm has a market cap of $1.04 billion, a PE ratio of -453.60 and a beta of 1.04. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.14 and a quick ratio of 2.67. The company has a 50 day simple moving average of $17.00 and a two-hundred day simple moving average of $14.18.

Insider Activity at AxoGen

In other AxoGen news, Director William P. Mr. Burke sold 14,571 shares of AxoGen stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $18.21, for a total transaction of $265,337.91. Following the transaction, the director directly owned 2,293 shares of the company’s stock, valued at approximately $41,755.53. This trade represents a 86.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 35,521 shares of company stock worth $642,219 over the last quarter. Company insiders own 2.78% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. First Light Asset Management LLC increased its stake in shares of AxoGen by 1.2% in the second quarter. First Light Asset Management LLC now owns 4,529,243 shares of the medical equipment provider’s stock worth $49,142,000 after buying an additional 55,028 shares during the period. Vanguard Group Inc. boosted its holdings in AxoGen by 4.6% in the first quarter. Vanguard Group Inc. now owns 2,538,607 shares of the medical equipment provider’s stock valued at $46,964,000 after acquiring an additional 112,679 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in AxoGen by 183.9% in the second quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider’s stock valued at $20,953,000 after acquiring an additional 1,250,968 shares in the last quarter. Soleus Capital Management L.P. boosted its holdings in shares of AxoGen by 0.9% during the 2nd quarter. Soleus Capital Management L.P. now owns 1,459,395 shares of the medical equipment provider’s stock valued at $15,834,000 after buying an additional 13,278 shares in the last quarter. Finally, Wasatch Advisors LP boosted its holdings in shares of AxoGen by 85.1% during the 2nd quarter. Wasatch Advisors LP now owns 1,433,782 shares of the medical equipment provider’s stock valued at $15,557,000 after buying an additional 659,149 shares in the last quarter. 80.29% of the stock is owned by hedge funds and other institutional investors.

AxoGen Company Profile

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.