AxoGen, Inc. (NASDAQ:AXGN) Receives $22.20 Consensus PT from Analysts

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) has earned a consensus recommendation of "Buy" from the five research firms that are currently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have covered the stock in the last year is $22.20.

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

Insider Transactions at AxoGen

In related news, insider Erick Wayne Devinney sold 15,111 shares of AxoGen stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total value of $264,442.50. Following the transaction, the insider now directly owns 217,762 shares in the company, valued at $3,810,835. This trade represents a 6.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph A. Tyndall sold 20,062 shares of AxoGen stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $11.20, for a total transaction of $224,694.40. Following the completion of the transaction, the director now owns 15,345 shares in the company, valued at approximately $171,864. This trade represents a 56.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.78% of the company's stock.

Hedge Funds Weigh In On AxoGen

Hedge funds and other institutional investors have recently bought and sold shares of the company. R Squared Ltd purchased a new position in AxoGen in the 4th quarter valued at $30,000. US Bancorp DE purchased a new position in AxoGen in the 4th quarter valued at $30,000. State of Wyoming purchased a new position in AxoGen in the 4th quarter valued at $31,000. Fifth Third Bancorp purchased a new position in AxoGen in the 1st quarter valued at $92,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in AxoGen in the fourth quarter valued at $93,000. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

AxoGen Stock Down 4.0%

Shares of AXGN stock traded down $0.46 during trading hours on Friday, reaching $10.90. 358,327 shares of the stock were exchanged, compared to its average volume of 469,049. The business's fifty day moving average is $14.34 and its two-hundred day moving average is $16.00. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. AxoGen has a 12-month low of $6.59 and a 12-month high of $21.00. The firm has a market capitalization of $496.43 million, a P/E ratio of -34.06 and a beta of 1.19.

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.