Brokerages Set AxoGen, Inc. (NASDAQ:AXGN) Target Price at $22.20

Shares of AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) have received a consensus recommendation of "Buy" from the five research firms that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $22.20.

Several research firms have commented on AXGN. Cantor Fitzgerald reiterated an "overweight" rating and set a $24.00 price objective on shares of AxoGen in a research note on Wednesday, March 5th. Lake Street Capital assumed coverage on AxoGen in a research note on Monday, March 17th. They set a "buy" rating and a $30.00 price objective for the company. Finally, Canaccord Genuity Group lowered their target price on AxoGen from $26.00 to $24.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th.

Insider Transactions at AxoGen

In related news, Director Joseph A. Tyndall sold 20,062 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $11.20, for a total value of $224,694.40. Following the transaction, the director now directly owns 15,345 shares in the company, valued at approximately $171,864. This represents a 56.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.78% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its holdings in AxoGen by 3.5% in the first quarter. Rhumbline Advisers now owns 60,264 shares of the medical equipment provider's stock valued at $1,115,000 after acquiring an additional 2,032 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in AxoGen by 41.0% in the first quarter. Acadian Asset Management LLC now owns 226,812 shares of the medical equipment provider's stock valued at $4,194,000 after acquiring an additional 65,929 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in AxoGen by 104,810.0% in the first quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider's stock valued at $194,000 after acquiring an additional 10,481 shares during the last quarter. Uniplan Investment Counsel Inc. acquired a new position in AxoGen in the first quarter valued at approximately $2,506,000. Finally, Parkman Healthcare Partners LLC lifted its holdings in AxoGen by 46.8% in the first quarter. Parkman Healthcare Partners LLC now owns 536,832 shares of the medical equipment provider's stock valued at $9,931,000 after acquiring an additional 171,129 shares during the last quarter. 80.29% of the stock is currently owned by institutional investors and hedge funds.

AxoGen Price Performance

NASDAQ:AXGN traded up $0.03 during trading hours on Wednesday, hitting $10.50. 1,101,152 shares of the stock were exchanged, compared to its average volume of 487,273. AxoGen has a 52-week low of $7.09 and a 52-week high of $21.00. The firm's fifty day moving average price is $12.18 and its 200 day moving average price is $15.55. The company has a current ratio of 4.28, a quick ratio of 2.65 and a debt-to-equity ratio of 0.63. The company has a market cap of $478.21 million, a P/E ratio of -70.00 and a beta of 1.05.

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.