BidaskClub upgraded shares of AxoGen (NASDAQ:AXGN) from a hold rating to a buy rating in a research note issued to investors on Wednesday.
Several other research analysts have also weighed in on the stock. Leerink Swann restated an outperform rating and set a $55.00 target price on shares of AxoGen in a research report on Tuesday, October 30th. Cantor Fitzgerald restated a buy rating and set a $45.00 target price on shares of AxoGen in a research report on Thursday, August 9th. Finally, BTIG Research started coverage on shares of AxoGen in a report on Wednesday, November 14th. They issued a neutral rating on the stock. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $44.80.
Shares of AXGN opened at $29.67 on Wednesday. AxoGen has a twelve month low of $23.60 and a twelve month high of $56.85.
In other AxoGen news, General Counsel Gregory Gene Freitag sold 20,000 shares of the company’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $32.25, for a total value of $645,000.00. Following the sale, the general counsel now owns 140,865 shares of the company’s stock, valued at $4,542,896.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Karen L. Zaderej sold 25,000 shares of the company’s stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $33.18, for a total transaction of $829,500.00. Following the completion of the sale, the chief executive officer now directly owns 394,970 shares in the company, valued at approximately $13,105,104.60. The disclosure for this sale can be found here. Insiders sold 90,000 shares of company stock worth $2,959,500 in the last ninety days. Insiders own 7.86% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of Montreal Can purchased a new position in shares of AxoGen during the second quarter valued at approximately $180,000. Princeton Capital Management LLC purchased a new position in shares of AxoGen during the third quarter valued at approximately $184,000. Jane Street Group LLC purchased a new position in shares of AxoGen during the second quarter valued at approximately $201,000. Quantitative Systematic Strategies LLC purchased a new position in shares of AxoGen during the second quarter valued at approximately $207,000. Finally, Beacon Investment Advisory Services Inc. purchased a new position in shares of AxoGen during the second quarter valued at approximately $243,000. 88.59% of the stock is currently owned by institutional investors.
AxoGen, Inc develops and markets surgical solutions for peripheral nerve injuries. The company's surgical 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 damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
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