AxoGen, Inc. (NASDAQ:AXGN) Given Average Rating of “Moderate Buy” by Brokerages

AxoGen, Inc. (NASDAQ:AXGN) has received an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $35.5556.

A number of research analysts have recently weighed in on AXGN shares. Citizens Jmp lifted their price objective on AxoGen from $26.00 to $34.00 and gave the company a “market outperform” rating in a research report on Thursday, October 30th. Citigroup restated a “market outperform” rating on shares of AxoGen in a research note on Thursday, October 30th. Raymond James Financial reiterated an “outperform” rating and issued a $36.00 price target on shares of AxoGen in a research report on Thursday, December 4th. Jefferies Financial Group increased their price objective on shares of AxoGen from $29.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Finally, Mizuho assumed coverage on shares of AxoGen in a research note on Monday, December 1st. They set an “outperform” rating and a $40.00 target price on the stock.

Insiders Place Their Bets

In related news, Director Joseph A. Tyndall sold 25,108 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $30.98, for a total transaction of $777,845.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy Mcbride Wendell sold 43,684 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $29.31, for a total transaction of $1,280,378.04. Following the sale, the director directly owned 93,826 shares of the company’s stock, valued at approximately $2,750,040.06. This trade represents a 31.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 324,498 shares of company stock valued at $9,721,948. Insiders own 2.78% of the company’s stock.

Institutional Trading of AxoGen

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. HighMark Wealth Management LLC boosted its holdings in shares of AxoGen by 85.8% during the 4th quarter. HighMark Wealth Management LLC now owns 343,940 shares of the medical equipment provider’s stock valued at $11,257,000 after purchasing an additional 158,855 shares during the last quarter. Chung Wu Investment Group LLC purchased a new stake in shares of AxoGen in the fourth quarter worth about $131,000. Sigma Planning Corp purchased a new stake in shares of AxoGen in the fourth quarter worth about $280,000. Torren Management LLC bought a new position in AxoGen during the fourth quarter valued at approximately $88,000. Finally, IMC Chicago LLC bought a new position in AxoGen during the fourth quarter valued at approximately $423,000. 80.29% of the stock is currently owned by institutional investors.

AxoGen Trading Down 2.8%

Shares of AxoGen stock opened at $34.22 on Thursday. AxoGen has a 1-year low of $9.22 and a 1-year high of $36.00. The company’s fifty day simple moving average is $31.90 and its 200-day simple moving average is $22.72. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.09 and a quick ratio of 2.64. The stock has a market capitalization of $1.58 billion, a PE ratio of -684.40 and a beta of 1.00.

AxoGen Company Profile

AxoGen, Inc is a Florida-based medical technology company that develops and commercializes surgical solutions for peripheral nerve damage. Founded in 2002 and headquartered in Alachua, Florida, the company focuses on restoring nerve function and improving patient outcomes through innovative biologic and engineered products. AxoGen’s offerings address a range of traumatic and iatrogenic injuries, offering alternatives to traditional nerve autografts.

The company’s core product portfolio includes the Avance® Nerve Graft, a decellularized human nerve allograft designed to bridge nerve gaps without the need for a secondary harvest site, and the Axoguard® Nerve Connector and Protector devices, which facilitate nerve coaptation and protect repaired sites from surrounding scar tissue.