AxoGen (NASDAQ:AXGN) Coverage Initiated at Lake Street Capital

Stock analysts at Lake Street Capital initiated coverage on shares of AxoGen (NASDAQ:AXGN) in a research report issued on Monday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $30.00 price target on the medical equipment provider’s stock. Lake Street Capital’s price objective would suggest a potential upside of 73.91% from the stock’s previous close.

A number of other analysts have also issued reports on AXGN. Canaccord Genuity Group boosted their target price on shares of AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $24.00 price objective on shares of AxoGen in a research report on Wednesday, March 5th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $22.60.

AxoGen Price Performance

AXGN opened at $17.25 on Monday. The business has a fifty day moving average of $18.01 and a 200 day moving average of $15.50. The stock has a market cap of $764.93 million, a P/E ratio of -53.91 and a beta of 1.02. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67. AxoGen has a 52-week low of $5.55 and a 52-week high of $21.00.

Insider Transactions at AxoGen

In other news, Director Amy Mcbride Wendell sold 5,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $20.02, for a total value of $100,100.00. Following the completion of the sale, the director now owns 97,899 shares in the company, valued at approximately $1,959,937.98. The trade was a 4.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On AxoGen

Hedge funds and other institutional investors have recently modified their holdings of the business. Squarepoint Ops LLC lifted its stake in shares of AxoGen by 86.7% during the 4th quarter. Squarepoint Ops LLC now owns 55,668 shares of the medical equipment provider’s stock worth $917,000 after purchasing an additional 25,853 shares during the last quarter. State of Wyoming purchased a new stake in shares of AxoGen during the fourth quarter worth about $31,000. ProShare Advisors LLC acquired a new position in shares of AxoGen during the fourth quarter valued at about $197,000. Nicholas Investment Partners LP increased its stake in AxoGen by 49.9% during the 4th quarter. Nicholas Investment Partners LP now owns 295,554 shares of the medical equipment provider’s stock valued at $4,871,000 after purchasing an additional 98,419 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of AxoGen by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,128 shares of the medical equipment provider’s stock valued at $398,000 after acquiring an additional 926 shares during the period. 80.29% of the stock is currently owned by institutional investors.

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.