AxoGen (NASDAQ:AXGN) Stock Price Up 4.8% – Should You Buy?

Shares of AxoGen, Inc. (NASDAQ:AXGN) shot up 4.8% during trading on Tuesday . The company traded as high as $18.86 and last traded at $19.03. 110,542 shares were traded during mid-day trading, a decline of 72% from the average session volume of 399,428 shares. The stock had previously closed at $18.15.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AXGN shares. Cantor Fitzgerald restated an “overweight” rating and issued a $24.00 price objective on shares of AxoGen in a report on Wednesday, March 5th. Lake Street Capital assumed coverage on AxoGen in a research report on Monday, March 17th. They set a “buy” rating and a $30.00 target price for the company. Finally, Canaccord Genuity Group increased their price target 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. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AxoGen presently has a consensus rating of “Buy” and an average target price of $22.60.

AxoGen Stock Up 4.9 %

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 company has a market capitalization of $844.31 million, a P/E ratio of -59.50 and a beta of 1.02. The firm has a fifty day simple moving average of $18.24 and a 200-day simple moving average of $15.70.

Insiders Place Their Bets

In related news, insider Erick Wayne Devinney sold 15,111 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total value of $264,442.50. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amy Mcbride Wendell sold 5,000 shares of AxoGen stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $20.02, for a total value 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. This represents a 4.86 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On AxoGen

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in AxoGen by 3.2% during the third quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider’s stock worth $14,170,000 after buying an additional 31,612 shares during the last quarter. FMR LLC raised its holdings in shares of AxoGen by 743.1% in the 3rd quarter. FMR LLC now owns 178,957 shares of the medical equipment provider’s stock valued at $2,509,000 after purchasing an additional 157,730 shares during the period. Barclays PLC lifted its stake in AxoGen by 119.3% in the 3rd quarter. Barclays PLC now owns 72,036 shares of the medical equipment provider’s stock valued at $1,010,000 after purchasing an additional 39,182 shares during the last quarter. State Street Corp increased its position in AxoGen by 11.9% during the third quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock worth $12,571,000 after buying an additional 95,051 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in AxoGen in the third quarter valued at approximately $207,000. 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.