AxoGen, Inc. (NASDAQ:AXGN) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• AxoGen, Inc. (NASDAQ:AXGN) has received a consensus rating of "Moderate Buy" from five brokerages, with one analyst issuing a sell rating and four a buy rating.
• The average price target for AxoGen's stock over the next year is $25.75, according to updated broker coverage.
• Hedge funds and institutional investors now own 80.29% of AxoGen's stock, indicating strong institutional interest in the company.

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the five brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $25.75.

A number of research firms have recently commented on AXGN. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of AxoGen in a report on Saturday, September 27th. HC Wainwright began coverage on AxoGen in a research note on Tuesday. They set a "buy" rating and a $25.00 price objective for the company. Finally, Wall Street Zen upgraded AxoGen from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th.

Hedge Funds Weigh In On AxoGen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp purchased a new position in AxoGen during the first quarter worth about $92,000. Tower Research Capital LLC TRC lifted its stake in AxoGen by 189.9% during the second quarter. Tower Research Capital LLC TRC now owns 5,079 shares of the medical equipment provider's stock worth $55,000 after purchasing an additional 3,327 shares during the last quarter. GAMMA Investing LLC lifted its stake in AxoGen by 3,884.6% during the first quarter. GAMMA Investing LLC now owns 5,698 shares of the medical equipment provider's stock worth $105,000 after purchasing an additional 5,555 shares during the last quarter. AlphaQuest LLC lifted its stake in AxoGen by 882.2% during the second quarter. AlphaQuest LLC now owns 6,276 shares of the medical equipment provider's stock worth $68,000 after purchasing an additional 5,637 shares during the last quarter. Finally, State of Wyoming bought a new stake in AxoGen during the second quarter worth about $69,000. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

AxoGen Price Performance

Shares of AxoGen stock remained flat at $17.88 during trading hours on Friday. The stock had a trading volume of 1,032,410 shares, compared to its average volume of 925,345. AxoGen has a 52-week low of $9.22 and a 52-week high of $21.00. The business has a 50 day moving average price of $15.68 and a two-hundred day moving average price of $14.18. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.67 and a current ratio of 4.14. The company has a market cap of $822.66 million, a price-to-earnings ratio of -178.78 and a beta of 1.04.

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.

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