AxoGen (NASDAQ:AXGN) Now Covered by Analysts at Lake Street Capital

Lake Street Capital started coverage on shares of AxoGen (NASDAQ:AXGN) in a report issued on Monday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $30.00 target price on the medical equipment provider’s stock.

AXGN has been the topic of several other research reports. Canaccord Genuity Group raised their price target on 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 set a $24.00 target price on shares of AxoGen in a research report on Wednesday, March 5th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $22.60.

AxoGen Trading Up 1.5 %

AXGN opened at $17.90 on Monday. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67. The stock’s fifty day moving average is $18.19 and its two-hundred day moving average is $15.58. The company has a market capitalization of $793.76 million, a P/E ratio of -55.94 and a beta of 1.02. AxoGen has a 52 week low of $5.55 and a 52 week high of $21.00.

Insider Buying and Selling

In related news, Director Amy Mcbride Wendell sold 5,000 shares of the business’s 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 transaction, the director now owns 97,899 shares in the company, valued at $1,959,937.98. The trade was a 4.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Erick Wayne Devinney sold 15,111 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total transaction of $264,442.50. Following the completion of the sale, the insider now owns 217,762 shares of the company’s stock, valued at approximately $3,810,835. This trade represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AXGN. Driehaus Capital Management LLC boosted its holdings in AxoGen by 166.0% in the fourth quarter. Driehaus Capital Management LLC now owns 954,439 shares of the medical equipment provider’s stock worth $15,729,000 after acquiring an additional 595,579 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of AxoGen by 2,912.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider’s stock valued at $7,697,000 after purchasing an additional 530,775 shares during the last quarter. First Light Asset Management LLC raised its position in shares of AxoGen by 10.2% in the 4th 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. Parkman Healthcare Partners LLC acquired a new stake in AxoGen in the 3rd quarter worth approximately $5,789,000. Finally, Balyasny Asset Management L.P. purchased a new stake in AxoGen during the 4th quarter worth approximately $4,943,000. 80.29% of the stock is currently owned by hedge funds and other 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.