AxoGen (NASDAQ:AXGN) Price Target Raised to $26.00

AxoGen (NASDAQ:AXGN) had its price target upped by Canaccord Genuity Group from $22.00 to $26.00 in a report issued on Wednesday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the medical equipment provider’s stock.

AxoGen Trading Up 3.0 %

AXGN opened at $20.01 on Wednesday. The company’s 50 day moving average is $17.66 and its 200-day moving average is $14.99. AxoGen has a 1-year low of $5.55 and a 1-year high of $21.00. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67. The company has a market cap of $880.60 million, a P/E ratio of -62.53 and a beta of 1.00.

Institutional Investors Weigh In On AxoGen

Hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC boosted its position in AxoGen by 23,066.7% during the 3rd quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 2,076 shares during the period. R Squared Ltd acquired a new stake in AxoGen during the 4th quarter worth approximately $30,000. US Bancorp DE acquired a new stake in AxoGen during the 4th quarter worth approximately $30,000. State of Wyoming acquired a new stake in AxoGen during the 4th quarter worth approximately $31,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in AxoGen during the 4th quarter worth approximately $93,000. 80.29% of the stock is currently owned by institutional investors and hedge funds.

AxoGen Company Profile

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.