AxoGen (NASDAQ:AXGN) Price Target Raised to $34.00

AxoGen (NASDAQ:AXGN) had its price objective boosted by Citizens Jmp from $26.00 to $34.00 in a research report report published on Thursday,Benzinga reports. They currently have a market outperform rating on the medical equipment provider’s stock.

Other equities research analysts also recently issued research reports about the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of AxoGen in a research report on Wednesday. Citigroup reaffirmed a “market outperform” rating on shares of AxoGen in a research report on Thursday. Wall Street Zen raised shares of AxoGen from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. HC Wainwright assumed coverage on shares of AxoGen in a research report on Tuesday, September 30th. They issued a “buy” rating and a $25.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of AxoGen in a research note on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $28.86.

AxoGen Trading Down 2.0%

NASDAQ:AXGN opened at $22.22 on Thursday. The company has a current ratio of 4.14, a quick ratio of 2.67 and a debt-to-equity ratio of 0.59. AxoGen has a 12 month low of $9.22 and a 12 month high of $23.14. The company has a market cap of $1.02 billion, a PE ratio of -444.40 and a beta of 1.04. The company has a 50 day simple moving average of $17.12 and a two-hundred day simple moving average of $14.21.

Insider Buying and Selling at AxoGen

In other news, Director William P. Mr. Burke sold 40,235 shares of AxoGen stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $20.55, for a total transaction of $826,829.25. Following the transaction, the director owned 100 shares in the company, valued at $2,055. This trade represents a 99.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 94,004 shares of company stock worth $1,888,752. Company insiders own 2.78% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Future Financial Wealth Managment LLC purchased a new position in shares of AxoGen during the 3rd quarter valued at $27,000. State of Alaska Department of Revenue purchased a new position in shares of AxoGen during the 3rd quarter valued at $43,000. AdvisorNet Financial Inc lifted its stake in shares of AxoGen by 500.0% during the 3rd quarter. AdvisorNet Financial Inc now owns 4,800 shares of the medical equipment provider’s stock valued at $86,000 after buying an additional 4,000 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of AxoGen by 189.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,079 shares of the medical equipment provider’s stock valued at $55,000 after buying an additional 3,327 shares in the last quarter. Finally, AlphaQuest LLC lifted its stake in shares of AxoGen by 882.2% during the 2nd quarter. AlphaQuest LLC now owns 6,276 shares of the medical equipment provider’s stock valued at $68,000 after buying an additional 5,637 shares in 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.