AxoGen (AXGN) Rating Lowered to Buy at BidaskClub
BidaskClub cut shares of AxoGen (NASDAQ:AXGN) from a strong-buy rating to a buy rating in a research report report published on Thursday morning.
Several other equities research analysts have also recently commented on AXGN. Cantor Fitzgerald set a $37.00 target price on AxoGen and gave the company a buy rating in a research note on Monday, January 8th. Leerink Swann restated an outperform rating and issued a $23.00 target price (up previously from $22.00) on shares of AxoGen in a research note on Saturday, September 30th. Wedbush restated a buy rating and issued a $27.00 target price (up previously from $22.00) on shares of AxoGen in a research note on Tuesday, November 21st. Lake Street Capital boosted their price target on AxoGen from $22.00 to $26.00 and gave the stock a buy rating in a research report on Tuesday, November 21st. Finally, Jefferies Group started coverage on AxoGen in a research report on Thursday, November 30th. They set a buy rating and a $35.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $29.33.
AxoGen (NASDAQ:AXGN) traded up $0.25 during midday trading on Thursday, reaching $28.00. The company’s stock had a trading volume of 203,048 shares, compared to its average volume of 306,610. The company has a current ratio of 3.55, a quick ratio of 2.95 and a debt-to-equity ratio of 1.93. AxoGen has a 12-month low of $8.75 and a 12-month high of $31.70.
In other AxoGen news, Director Jamie Mark Grooms sold 38,405 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $26.35, for a total transaction of $1,011,971.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Guido J. Neels sold 1,150,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $19.74, for a total value of $22,701,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,293,990 shares of company stock worth $26,494,898 in the last ninety days. Insiders own 9.33% of the company’s stock.
Several large investors have recently bought and sold shares of the business. Nationwide Fund Advisors increased its position in shares of AxoGen by 5.5% during the 2nd quarter. Nationwide Fund Advisors now owns 14,874 shares of the medical equipment provider’s stock worth $249,000 after purchasing an additional 774 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of AxoGen by 6.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,616 shares of the medical equipment provider’s stock worth $395,000 after purchasing an additional 1,335 shares during the last quarter. Voya Investment Management LLC increased its position in shares of AxoGen by 7.4% during the 2nd quarter. Voya Investment Management LLC now owns 19,904 shares of the medical equipment provider’s stock worth $333,000 after purchasing an additional 1,370 shares during the last quarter. Rhumbline Advisers increased its position in shares of AxoGen by 11.4% during the 2nd quarter. Rhumbline Advisers now owns 28,720 shares of the medical equipment provider’s stock worth $481,000 after purchasing an additional 2,945 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in shares of AxoGen by 1.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 260,484 shares of the medical equipment provider’s stock worth $5,040,000 after acquiring an additional 2,979 shares during the last quarter. 66.00% of the stock is currently 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 companys 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.
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