Brokerages Set AxoGen, Inc. (NASDAQ:AXGN) Price Target at $25.75

AxoGen, Inc. (NASDAQ:AXGN) has been given a consensus rating of “Moderate Buy” by the nine research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $28.8571.

A number of brokerages have recently issued reports on AXGN. HC Wainwright boosted their target price on AxoGen from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday. JMP Securities set a $34.00 target price on shares of AxoGen in a research note on Thursday. Citizens Jmp upped their price target on shares of AxoGen from $26.00 to $34.00 and gave the stock a “market outperform” rating in a research report on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of AxoGen in a report on Wednesday, October 8th. Finally, Raymond James Financial increased their price target on AxoGen from $20.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday.

Insider Buying and Selling

In related news, Director William P. Mr. Burke sold 40,235 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $20.55, for a total transaction of $826,829.25. Following the transaction, the director directly owned 100 shares of the company’s stock, valued at approximately $2,055. The trade was a 99.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 94,004 shares of company stock worth $1,888,752. Insiders own 2.78% of the company’s stock.

Institutional Trading of AxoGen

A number of hedge funds have recently made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new stake in AxoGen during the 3rd quarter valued at $27,000. State of Alaska Department of Revenue purchased a new position in AxoGen in the 3rd quarter valued at about $43,000. Tower Research Capital LLC TRC boosted its position in AxoGen by 189.9% in 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 during the last quarter. AlphaQuest LLC lifted its stake in shares of AxoGen by 882.2% in the second quarter. AlphaQuest LLC now owns 6,276 shares of the medical equipment provider’s stock worth $68,000 after acquiring an additional 5,637 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of AxoGen in the second quarter worth about $69,000. Hedge funds and other institutional investors own 80.29% of the company’s stock.

AxoGen Stock Performance

Shares of NASDAQ:AXGN opened at $22.22 on Tuesday. The firm has a market capitalization of $1.02 billion, a PE ratio of -444.40 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 business has a 50-day moving average of $17.12 and a two-hundred day moving average of $14.21. AxoGen has a 12 month low of $9.22 and a 12 month high of $23.14.

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.