AxoGen (NASDAQ:AXGN) Receives “Overweight” Rating from Cantor Fitzgerald

AxoGen (NASDAQ:AXGN)‘s stock had its “overweight” rating reiterated by equities research analysts at Cantor Fitzgerald in a research note issued on Wednesday,Benzinga reports. They currently have a $24.00 target price on the medical equipment provider’s stock. Cantor Fitzgerald’s price objective suggests a potential upside of 32.50% from the stock’s previous close.

Separately, Canaccord Genuity Group lifted their price target on AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, AxoGen has a consensus rating of “Buy” and an average price target of $20.75.

AxoGen Stock Performance

Shares of NASDAQ AXGN traded down $0.51 during trading on Wednesday, reaching $18.11. 52,293 shares of the company traded hands, compared to its average volume of 539,406. The stock has a market cap of $803.20 million, a P/E ratio of -56.69 and a beta of 1.00. The firm’s fifty day simple moving average is $17.84 and its 200 day simple moving average is $15.22. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67. AxoGen has a 12-month low of $5.55 and a 12-month high of $21.00.

Institutional Investors Weigh In On AxoGen

A number of institutional investors have recently modified their holdings of the business. First Light Asset Management LLC boosted its position in AxoGen by 10.2% during the fourth quarter. First Light Asset Management LLC now owns 4,506,795 shares of the medical equipment provider’s stock worth $74,272,000 after purchasing an additional 416,499 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of AxoGen by 3.2% during the 3rd 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 period. Driehaus Capital Management LLC lifted its position in shares of AxoGen by 166.0% during the 4th quarter. Driehaus Capital Management LLC now owns 954,439 shares of the medical equipment provider’s stock valued at $15,729,000 after buying an additional 595,579 shares in the last quarter. State Street Corp grew its stake in AxoGen by 11.9% in the 3rd quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock valued at $12,571,000 after acquiring an additional 95,051 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in AxoGen by 13.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 772,752 shares of the medical equipment provider’s stock worth $12,735,000 after acquiring an additional 91,984 shares in the last quarter. 80.29% of the stock is currently owned by institutional investors and hedge funds.

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.