AxoGen (NASDAQ:AXGN) Coverage Initiated by Analysts at Wells Fargo & Company

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

AXGN has been the topic of several other reports. HC Wainwright lifted their target price on shares of AxoGen from $26.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Lake Street Capital raised their price target on shares of AxoGen from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Wall Street Zen raised shares of AxoGen from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Citigroup reiterated a “market outperform” rating on shares of AxoGen in a report on Thursday, October 30th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $36.00 target price on shares of AxoGen in a research note on Thursday, December 4th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, AxoGen currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.22.

AxoGen Trading Up 1.9%

AxoGen stock traded up $0.65 during trading hours on Thursday, reaching $35.66. The company had a trading volume of 137,502 shares, compared to its average volume of 943,188. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.09 and a quick ratio of 2.64. AxoGen has a 12-month low of $9.22 and a 12-month high of $36.00. The company has a 50-day moving average price of $32.81 and a 200 day moving average price of $24.26. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -712.92 and a beta of 1.00.

Insiders Place Their Bets

In other AxoGen news, Director Paul Thomas sold 21,399 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $29.61, for a total value of $633,624.39. Following the completion of the transaction, the director owned 13,528 shares in the company, valued at approximately $400,564.08. This represents a 61.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marc A. Began sold 9,278 shares of AxoGen stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $31.21, for a total transaction of $289,566.38. Following the transaction, the executive vice president directly owned 31,507 shares of the company’s stock, valued at approximately $983,333.47. This trade represents a 22.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 301,680 shares of company stock valued at $9,174,052 over the last ninety days. 2.78% of the stock is owned by corporate insiders.

Institutional Trading of AxoGen

A number of hedge funds have recently made changes to their positions in AXGN. Royal Bank of Canada raised its stake in AxoGen by 14.2% during the first quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock valued at $704,000 after buying an additional 4,723 shares during the last quarter. AQR Capital Management LLC raised its position in shares of AxoGen by 45.3% in the 1st quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider’s stock worth $442,000 after purchasing an additional 7,453 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of AxoGen by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock worth $466,000 after purchasing an additional 1,057 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in AxoGen by 104,810.0% in the 1st quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider’s stock worth $194,000 after purchasing an additional 10,481 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in AxoGen during the 2nd quarter valued at about $118,000. 80.29% of the stock is owned by institutional investors.

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.