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

StockNews.com upgraded shares of AxoGen (NASDAQ:AXGN) from a hold rating to a buy rating in a research note issued to investors on Friday.

A number of other brokerages have also issued reports on AXGN. Raymond James initiated coverage on shares of AxoGen in a research report on Monday, July 1st. They issued an outperform rating and a $13.00 target price for the company. JMP Securities increased their price objective on shares of AxoGen from $17.00 to $20.00 and gave the company a market outperform rating in a report on Friday. Finally, Canaccord Genuity Group reiterated a buy rating and set a $15.00 price objective on shares of AxoGen in a research note on Thursday, June 20th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $13.80.

AxoGen Stock Performance

Shares of NASDAQ:AXGN traded up $0.32 on Friday, hitting $11.02. The company’s stock had a trading volume of 1,196,195 shares, compared to its average volume of 394,986. The company has a market capitalization of $481.63 million, a price-to-earnings ratio of -22.04 and a beta of 1.11. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.23 and a current ratio of 3.43. AxoGen has a 12 month low of $3.45 and a 12 month high of $11.15. The stock’s 50-day moving average is $8.04 and its two-hundred day moving average is $8.01.

Hedge Funds Weigh In On AxoGen

Hedge funds have recently made changes to their positions in the business. Rice Hall James & Associates LLC grew its position in AxoGen by 26.8% in the second quarter. Rice Hall James & Associates LLC now owns 194,269 shares of the medical equipment provider’s stock worth $1,407,000 after buying an additional 41,095 shares during the last quarter. Koss Olinger Consulting LLC bought a new stake in shares of AxoGen during the 2nd quarter worth $75,000. Acadian Asset Management LLC acquired a new position in shares of AxoGen in the 2nd quarter worth $125,000. Rhumbline Advisers raised its position in shares of AxoGen by 6.2% during the second quarter. Rhumbline Advisers now owns 58,157 shares of the medical equipment provider’s stock worth $421,000 after purchasing an additional 3,380 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of AxoGen by 9.4% during the second quarter. Bank of New York Mellon Corp now owns 160,892 shares of the medical equipment provider’s stock valued at $1,165,000 after purchasing an additional 13,798 shares during the last quarter. Institutional investors and hedge funds 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.