AxoGen (NASDAQ:AXGN) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of AxoGen (NASDAQ:AXGN) in a research note published on Wednesday,Benzinga reports. The firm currently has a $24.00 price objective on the medical equipment provider’s stock.

Separately, Canaccord Genuity Group increased their target price on shares of AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $20.75.

AxoGen Trading Down 2.2 %

Shares of NASDAQ AXGN opened at $18.21 on Wednesday. The stock has a market cap of $807.50 million, a P/E ratio of -56.91 and a beta of 1.00. AxoGen has a 52-week low of $5.55 and a 52-week high of $21.00. The firm has a 50 day moving average price of $17.84 and a two-hundred day moving average price of $15.22. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74.

Insiders Place Their Bets

In other AxoGen news, Director Amy Mcbride Wendell sold 5,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $20.02, for a total transaction of $100,100.00. Following the transaction, the director now owns 97,899 shares in the company, valued at approximately $1,959,937.98. This represents a 4.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.00% of the company’s stock.

Institutional Trading of AxoGen

Several institutional investors and hedge funds have recently made changes to their positions in the company. First Light Asset Management LLC raised its holdings 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 valued at $74,272,000 after purchasing an additional 416,499 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of AxoGen by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider’s stock valued at $14,170,000 after purchasing an additional 31,612 shares during the last quarter. Driehaus Capital Management LLC raised its holdings in shares of AxoGen by 166.0% in the fourth quarter. Driehaus Capital Management LLC now owns 954,439 shares of the medical equipment provider’s stock valued at $15,729,000 after purchasing an additional 595,579 shares during the last quarter. State Street Corp raised its holdings in shares of AxoGen by 11.9% in the third quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock valued at $12,571,000 after purchasing an additional 95,051 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of AxoGen by 13.5% in the fourth 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 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.