AxoGen (NASDAQ:AXGN) Price Target Raised to $27.00

AxoGen (NASDAQ:AXGN) had its price target raised by Raymond James Financial from $20.00 to $27.00 in a research note released on Thursday,Benzinga reports. They currently have an outperform rating on the medical equipment provider’s stock.

Other analysts have also recently issued reports about the stock. Wall Street Zen raised shares of AxoGen from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Citizens Jmp boosted their price objective on shares of AxoGen from $26.00 to $34.00 and gave the company a “market outperform” rating in a research note on Thursday. Canaccord Genuity Group boosted their price objective on shares of AxoGen from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday. Weiss Ratings reissued a “sell (d-)” rating on shares of AxoGen in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of AxoGen in a research note on Wednesday. Eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.86.

AxoGen Trading Down 2.0%

Shares of AXGN opened at $22.22 on Thursday. The stock has a fifty day moving average of $17.12 and a two-hundred day moving average of $14.21. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.67 and a current ratio of 4.14. The company has a market capitalization of $1.02 billion, a PE ratio of -444.40 and a beta of 1.04. AxoGen has a fifty-two week low of $9.22 and a fifty-two week high of $23.14.

Insider Buying and Selling at AxoGen

In other news, Director William P. Mr. Burke sold 40,235 shares of the firm’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $20.55, for a total transaction of $826,829.25. Following the completion of the transaction, the director directly owned 100 shares in the company, valued at $2,055. This trade represents a 99.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 94,004 shares of company stock worth $1,888,752 in the last ninety days. 2.78% of the stock is owned by company insiders.

Hedge Funds Weigh In On AxoGen

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cannon Global Investment Management LLC bought a new position in shares of AxoGen during the third quarter valued at $303,000. Primoris Wealth Advisors LLC increased its holdings in shares of AxoGen by 811.2% during the third quarter. Primoris Wealth Advisors LLC now owns 143,060 shares of the medical equipment provider’s stock valued at $2,552,000 after acquiring an additional 127,360 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of AxoGen during the third quarter valued at $43,000. SG Americas Securities LLC bought a new stake in AxoGen in the 3rd quarter worth about $209,000. Finally, HighMark Wealth Management LLC increased its holdings in AxoGen by 88.7% in the 3rd quarter. HighMark Wealth Management LLC now owns 185,085 shares of the medical equipment provider’s stock worth $3,302,000 after buying an additional 87,000 shares in the last quarter. 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.