AxoGen (NASDAQ:AXGN) Now Covered by HC Wainwright

Key Points

• HC Wainwright has initiated coverage on AxoGen (NASDAQ:AXGN) with a "buy" rating, joining other analysts in optimistic views on the stock.
• AxoGen's shares increased by 3.4%, bringing the stock price to $17.84, with an average price target from analysts at $25.75.
• Institutional investors hold a significant stake of 80.29% in AxoGen, indicating strong interest from larger financial entities.

Equities research analysts at HC Wainwright started coverage on shares of AxoGen (NASDAQ:AXGN - Get Free Report) in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage set a "buy" rating on the medical equipment provider's stock.

Separately, Wall Street Zen upgraded AxoGen from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat, AxoGen currently has an average rating of "Buy" and a consensus price target of $25.75.

AxoGen Stock Up 3.4%

Shares of NASDAQ AXGN opened at $17.84 on Tuesday. The stock has a market cap of $820.82 million, a P/E ratio of -178.38 and a beta of 1.03. The company has a current ratio of 4.14, a quick ratio of 2.67 and a debt-to-equity ratio of 0.59. AxoGen has a 12-month low of $9.22 and a 12-month high of $21.00. The business's fifty day simple moving average is $15.41 and its 200-day simple moving average is $14.15.

Institutional Investors Weigh In On AxoGen

A number of institutional investors have recently added to or reduced their stakes in AXGN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of AxoGen by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider's stock worth $466,000 after acquiring an additional 1,057 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of AxoGen by 7.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,194 shares of the medical equipment provider's stock worth $176,000 after purchasing an additional 1,079 shares during the last quarter. Primoris Wealth Advisors LLC raised its position in shares of AxoGen by 9.0% during the 2nd quarter. Primoris Wealth Advisors LLC now owns 15,700 shares of the medical equipment provider's stock worth $170,000 after purchasing an additional 1,300 shares during the last quarter. Hsbc Holdings PLC raised its holdings in AxoGen by 6.5% in the 1st quarter. Hsbc Holdings PLC now owns 24,174 shares of the medical equipment provider's stock valued at $432,000 after acquiring an additional 1,468 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in AxoGen by 3.5% in the 1st 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. Hedge funds and other institutional investors 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.