Brokerages Set AxoGen, Inc. (NASDAQ:AXGN) Target Price at $20.75

AxoGen, Inc. (NASDAQ:AXGN) has been given an average recommendation of “Buy” by the five research firms that are presently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have covered the stock in the last year is $22.60.

Several research analysts have commented on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $24.00 target price on shares of AxoGen in a research report on Wednesday, March 5th. Lake Street Capital assumed coverage on shares of AxoGen in a research report on Monday, March 17th. They issued a “buy” rating and a $30.00 target price for the company. Finally, Canaccord Genuity Group upped their target price on shares of AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th.

Insider Activity at AxoGen

In related news, insider Erick Wayne Devinney sold 15,111 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total transaction of $264,442.50. Following the transaction, the insider now owns 217,762 shares of the company’s stock, valued at approximately $3,810,835. The trade was a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Amy Mcbride Wendell sold 5,000 shares of AxoGen stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $20.02, for a total transaction of $100,100.00. Following the sale, the director now owns 97,899 shares in the company, valued at $1,959,937.98. This represents a 4.86 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On AxoGen

Several institutional investors and hedge funds have recently made changes to their positions in AXGN. First Light Asset Management LLC lifted its position in AxoGen by 10.2% during the 4th quarter. First Light Asset Management LLC now owns 4,506,795 shares of the medical equipment provider’s stock worth $74,272,000 after buying an additional 416,499 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of AxoGen by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider’s stock valued at $14,170,000 after acquiring an additional 31,612 shares during the last quarter. Driehaus Capital Management LLC increased its stake in shares of AxoGen by 166.0% in the 4th quarter. Driehaus Capital Management LLC now owns 954,439 shares of the medical equipment provider’s stock valued at $15,729,000 after acquiring an additional 595,579 shares during the last quarter. State Street Corp increased its stake in shares of AxoGen by 11.9% in the 3rd quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock valued at $12,571,000 after acquiring an additional 95,051 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of AxoGen by 13.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 772,752 shares of the medical equipment provider’s stock valued at $12,735,000 after purchasing an additional 91,984 shares during the period. Institutional investors and hedge funds own 80.29% of the company’s stock.

AxoGen Price Performance

AXGN opened at $17.72 on Monday. The firm has a market cap of $785.78 million, a price-to-earnings ratio of -55.38 and a beta of 1.02. AxoGen has a fifty-two week low of $5.55 and a fifty-two week high of $21.00. The company’s 50-day moving average price is $18.24 and its 200 day moving average price is $15.63. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67.

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.