AxoGen (AXGN) Upgraded to “Strong-Buy” by BidaskClub

BidaskClub upgraded shares of AxoGen (NASDAQ:AXGN) from a buy rating to a strong-buy rating in a research report report published on Friday morning.

Other equities analysts have also issued reports about the company. William Blair assumed coverage on AxoGen in a research note on Monday, February 5th. They issued an outperform rating for the company. Leerink Swann upped their target price on AxoGen from $26.00 to $30.00 and gave the company an outperform rating in a research note on Tuesday, November 21st. Lake Street Capital upped their target price on AxoGen from $22.00 to $26.00 and gave the company a buy rating in a research note on Tuesday, November 21st. Wedbush reiterated a buy rating and issued a $27.00 target price (up from $22.00) on shares of AxoGen in a research note on Tuesday, November 21st. Finally, Cantor Fitzgerald reiterated an overweight rating on shares of AxoGen in a research note on Friday, January 5th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $29.33.

AxoGen (NASDAQ AXGN) traded up $0.30 during trading on Friday, reaching $28.95. The company had a trading volume of 174,735 shares, compared to its average volume of 244,087. The firm has a market capitalization of $976.79, a price-to-earnings ratio of -72.38 and a beta of 0.12. AxoGen has a 52-week low of $9.55 and a 52-week high of $31.70. The company has a debt-to-equity ratio of 1.93, a current ratio of 3.55 and a quick ratio of 2.95.

In related news, Director Jamie Mark Grooms sold 63,395 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $27.67, for a total value of $1,754,139.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 313,397 shares of company stock valued at $8,386,910 over the last quarter. Insiders own 9.33% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. William Blair Investment Management LLC purchased a new stake in AxoGen during the fourth quarter valued at about $5,081,000. MetLife Investment Advisors LLC purchased a new stake in AxoGen during the fourth quarter valued at about $388,000. Gotham Asset Management LLC purchased a new stake in AxoGen during the fourth quarter valued at about $249,000. Paloma Partners Management Co purchased a new stake in AxoGen during the fourth quarter valued at about $215,000. Finally, Two Sigma Advisers LP grew its position in AxoGen by 62.0% during the fourth quarter. Two Sigma Advisers LP now owns 116,500 shares of the medical equipment provider’s stock valued at $3,297,000 after acquiring an additional 44,600 shares during the period. 69.57% of the stock is owned by hedge funds and other institutional investors.

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AxoGen Company Profile

AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The company’s surgical nerve repair solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed 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 nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.

Analyst Recommendations for AxoGen (NASDAQ:AXGN)

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