AxoGen (NASDAQ:AXGN) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of AxoGen (NASDAQ:AXGN) in a report released on Thursday morning, Marketbeat.com reports. The firm issued an overweight rating and a $40.00 price target on the medical equipment provider’s stock.

Several other equities research analysts have also issued reports on AXGN. Wall Street Zen raised shares of AxoGen from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Jefferies Financial Group raised their price objective on AxoGen from $29.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Citigroup reaffirmed a “market outperform” rating on shares of AxoGen in a research report on Thursday, October 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of AxoGen in a research note on Monday, December 29th. Finally, Citizens Jmp set a $34.00 price target on AxoGen in a research report on Thursday, October 30th. Ten analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.22.

AxoGen Stock Up 0.8%

Shares of NASDAQ:AXGN opened at $35.30 on Thursday. The stock has a 50-day simple moving average of $32.91 and a 200-day simple moving average of $24.50. The stock has a market capitalization of $1.63 billion, a P/E ratio of -706.00 and a beta of 1.00. AxoGen has a 1 year low of $9.22 and a 1 year high of $36.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.64 and a current ratio of 4.09.

Insider Transactions at AxoGen

In other AxoGen news, Director John Johnson sold 23,693 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $31.24, for a total transaction of $740,169.32. Following the completion of the sale, the director owned 13,141 shares in the company, valued at $410,524.84. This trade represents a 64.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph A. Tyndall sold 25,108 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $30.98, for a total value of $777,845.84. The SEC filing for this sale provides additional information. Insiders have sold a total of 301,680 shares of company stock valued at $9,174,052 in the last three months. 2.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC acquired a new stake in shares of AxoGen in the 3rd quarter valued at about $27,000. MCF Advisors LLC bought a new stake in AxoGen in the fourth quarter valued at about $30,000. Aquatic Capital Management LLC raised its stake in AxoGen by 287.8% during the third quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock valued at $31,000 after buying an additional 1,269 shares in the last quarter. Arax Advisory Partners raised its stake in AxoGen by 362.4% during the fourth quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 819 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in AxoGen during the 4th quarter worth approximately $36,000. 80.29% of the stock is owned by institutional investors and hedge funds.

AxoGen Company Profile

AxoGen, Inc is a Florida-based medical technology company that develops and commercializes surgical solutions for peripheral nerve damage. Founded in 2002 and headquartered in Alachua, Florida, the company focuses on restoring nerve function and improving patient outcomes through innovative biologic and engineered products. AxoGen’s offerings address a range of traumatic and iatrogenic injuries, offering alternatives to traditional nerve autografts.

The company’s core product portfolio includes the Avance® Nerve Graft, a decellularized human nerve allograft designed to bridge nerve gaps without the need for a secondary harvest site, and the Axoguard® Nerve Connector and Protector devices, which facilitate nerve coaptation and protect repaired sites from surrounding scar tissue.