AxoGen, Inc. (NASDAQ:AXGN) Receives Average Recommendation of "Buy" from Analysts

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) has been given a consensus recommendation of "Buy" by the five ratings firms that are covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have covered the stock in the last year is $22.20.

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald restated an "overweight" rating and set a $24.00 price target 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 set a "buy" rating and a $30.00 price objective on the stock. Finally, Canaccord Genuity Group lowered their price target on AxoGen from $26.00 to $24.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th.

AxoGen Stock Performance

AxoGen stock opened at $10.15 on Wednesday. AxoGen has a 1-year low of $7.01 and a 1-year high of $21.00. The firm has a market cap of $462.23 million, a P/E ratio of -67.66 and a beta of 1.05. 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 firm has a 50-day moving average of $12.49 and a 200-day moving average of $15.64.

Insider Transactions at AxoGen

In other AxoGen news, Director Joseph A. Tyndall sold 20,062 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $11.20, for a total value of $224,694.40. Following the completion of the sale, the director now directly owns 15,345 shares in the company, valued at $171,864. This trade represents a 56.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.78% of the company's stock.

Hedge Funds Weigh In On AxoGen

Several hedge funds and other institutional investors have recently bought and sold shares of the business. First Light Asset Management LLC increased its stake in shares of AxoGen by 10.2% in the fourth quarter. First Light Asset Management LLC now owns 4,506,795 shares of the medical equipment provider's stock worth $74,272,000 after acquiring an additional 416,499 shares during the period. Vanguard Group Inc. boosted its position in AxoGen by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 2,538,607 shares of the medical equipment provider's stock worth $46,964,000 after purchasing an additional 112,679 shares in the last quarter. Driehaus Capital Management LLC boosted its holdings in AxoGen by 22.8% during the first quarter. Driehaus Capital Management LLC now owns 1,172,029 shares of the medical equipment provider's stock worth $21,683,000 after buying an additional 217,590 shares in the last quarter. Assenagon Asset Management S.A. grew its position in AxoGen by 21.1% during the first quarter. Assenagon Asset Management S.A. now owns 1,001,217 shares of the medical equipment provider's stock valued at $18,523,000 after buying an additional 174,681 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake 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 in 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.

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