AxoGen (NASDAQ:AXGN) Coverage Initiated at Lake Street Capital

On Monday, stock analysts at Lake Street Capital began coverage of AxoGen (NASDAQ:AXGN - Get Free Report) by publishing a research note. In this report, they assigned a "buy" rating to the medical equipment provider's stock and set a price target of $30.00. This target indicates a potential upside of approximately 73.91% from the stock's previous closing price.

Several other analysts have also provided insights on AxoGen. Canaccord Genuity Group raised their target price for AxoGen shares from $22.00 to $26.00, also giving the company a "buy" rating in a note issued on February 26. Meanwhile, Cantor Fitzgerald reaffirmed an "overweight" rating and set a price objective of $24.00 in their report from March 5. Currently, according to MarketBeat, six analysts have rated the stock as a buy, resulting in an average rating of "Buy" with a consensus price target of $22.60.

AxoGen Price Performance

AxoGen's stock opened at $17.25 on Monday. The company has a fifty-day moving average of $18.01 and a 200-day moving average of $15.50. Its current market cap stands at $764.93 million, with a P/E ratio of -53.91 and a beta of 1.02. The firm reports a quick ratio of 2.47 and a current ratio of 3.74, while its debt-to-equity ratio is at 0.67. Over the past year, AxoGen's stock has seen a low of $5.55 and a high of $21.00.

Insider Transactions at AxoGen

In related news, Director Amy Mcbride Wendell sold 5,000 shares of AxoGen stock on March 3, at an average price of $20.02, amounting to a total transaction value of $100,100.00. After this sale, she continues to hold 97,899 shares of the company, valued at around $1,959,937.98, indicating a decrease of 4.86% in her position. This transaction has been documented in a filing with the SEC.

Hedge Funds Weigh In On AxoGen

Recently, hedge funds and other institutional investors have adjusted their holdings in AxoGen. For instance, Squarepoint Ops LLC increased its stake in AxoGen by 86.7% in the fourth quarter, now holding 55,668 shares worth $917,000 after acquiring an extra 25,853 shares. Additionally, the State of Wyoming and ProShare Advisors LLC bought new stakes in AxoGen valued at approximately $31,000 and $197,000, respectively, during the same period. Nicholas Investment Partners LP increased its shares by nearly 50%, now owning 295,554 shares after adding 98,419 shares this last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. also expanded its investment by 4.0%, owning 24,128 shares worth $398,000. Overall, institutional investors own around 80.29% of AxoGen’s stock.

About AxoGen

AxoGen, Inc., along with its subsidiaries, specializes in developing and commercializing technologies for peripheral nerve regeneration and repair on a global scale. Their product range includes the Avance Nerve Graft, a biologically active processed human nerve allograft used to bridge severed peripheral nerves without complications from a second surgical site. They also offer AxoGuard Nerve Connector, which aids in the tensionless repair of severed nerves, and AxoGuard Nerve Protector to wrap and protect damaged nerves and support nerve reconstruction.

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