Lake Street Capital Initiates Coverage on AxoGen (NASDAQ:AXGN)

Lake Street Capital initiated coverage on shares of AxoGen (NASDAQ:AXGN) in a research note released on Monday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $30.00 price target on the medical equipment provider’s stock.

Several other analysts also recently weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $24.00 price objective on shares of AxoGen in a research report on Wednesday, March 5th. Canaccord Genuity Group lifted their price objective on shares of AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, AxoGen presently has an average rating of “Buy” and a consensus target price of $22.60.

AxoGen Trading Up 6.0 %

Shares of NASDAQ:AXGN opened at $18.28 on Monday. The company has a market cap of $810.61 million, a PE ratio of -57.13 and a beta of 1.02. The company’s 50-day moving average price is $18.08 and its 200 day moving average price is $15.54. AxoGen has a fifty-two week low of $5.55 and a fifty-two week high of $21.00. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67.

Insider Buying and Selling at AxoGen

In other AxoGen news, Director Amy Mcbride Wendell sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $20.02, for a total transaction of $100,100.00. Following the transaction, the director now owns 97,899 shares of the company’s stock, valued at approximately $1,959,937.98. This trade represents a 4.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AxoGen

Several large investors have recently bought and sold shares of AXGN. Principal Financial Group Inc. acquired a new position in AxoGen during the 3rd quarter valued at about $207,000. Los Angeles Capital Management LLC acquired a new position in shares of AxoGen in the 3rd quarter worth approximately $279,000. Oppenheimer & Co. Inc. acquired a new position in shares of AxoGen in the 3rd quarter worth approximately $156,000. Quest Partners LLC grew its stake in shares of AxoGen by 23,066.7% in the 3rd quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 2,076 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of AxoGen by 66.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 308,686 shares of the medical equipment provider’s stock worth $4,328,000 after purchasing an additional 123,118 shares during the last quarter. Institutional investors and hedge funds own 80.29% of the company’s stock.

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.