Cantor Fitzgerald Reaffirms “Overweight” Rating for AxoGen (NASDAQ:AXGN)

AxoGen (NASDAQ:AXGN)‘s stock had its “overweight” rating reaffirmed by research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $24.00 price target on the medical equipment provider’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 35.06% from the company’s current price.

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

AxoGen Stock Down 2.4 %

AxoGen stock opened at $17.77 on Wednesday. AxoGen has a 1-year low of $5.55 and a 1-year high of $21.00. The business has a fifty day moving average price of $17.87 and a 200-day moving average price of $15.24. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. The stock has a market capitalization of $787.99 million, a price-to-earnings ratio of -55.53 and a beta of 1.00.

Insider Buying and Selling at AxoGen

In other AxoGen news, Director Amy Mcbride Wendell sold 5,000 shares of AxoGen stock in a transaction that occurred 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 completion of the sale, the director now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Creative Planning grew its position in AxoGen by 152.2% during the 3rd quarter. Creative Planning now owns 29,790 shares of the medical equipment provider’s stock worth $418,000 after purchasing an additional 17,980 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of AxoGen in the third quarter worth about $207,000. Primoris Wealth Advisors LLC acquired a new stake in AxoGen during the third quarter worth about $207,000. Los Angeles Capital Management LLC purchased a new position in AxoGen during the third quarter valued at approximately $279,000. Finally, Oppenheimer & Co. Inc. acquired a new position in AxoGen in the third quarter valued at approximately $156,000. Hedge funds and other institutional investors own 80.29% of the company’s stock.

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.