AxoGen (NASDAQ:AXGN) Price Target Lowered to $24.00 at Canaccord Genuity Group

AxoGen (NASDAQ:AXGN) had its price target decreased by Canaccord Genuity Group from $26.00 to $24.00 in a research report report published on Tuesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the medical equipment provider’s stock.

Several other analysts also recently issued reports on AXGN. Lake Street Capital assumed coverage on shares of AxoGen in a research note on Monday, March 17th. They set a “buy” rating and a $30.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $24.00 price target on shares of AxoGen in a research report on Wednesday, March 5th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $22.20.

AxoGen Stock Down 4.5%

AXGN stock opened at $10.88 on Tuesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. The firm has a market capitalization of $495.42 million, a P/E ratio of -34.00 and a beta of 1.19. AxoGen has a 52-week low of $5.65 and a 52-week high of $21.00. The company’s 50 day simple moving average is $16.47 and its 200-day simple moving average is $16.28.

Insider Buying and Selling at AxoGen

In other AxoGen news, insider Erick Wayne Devinney sold 15,111 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total value of $264,442.50. Following the transaction, the insider now directly owns 217,762 shares of the company’s stock, valued at $3,810,835. This represents a 6.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Amy Mcbride Wendell sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $20.02, for a total value of $100,100.00. Following the sale, the director now directly owns 97,899 shares of the company’s stock, valued at $1,959,937.98. This trade represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On AxoGen

Large investors have recently made changes to their positions in the company. R Squared Ltd bought a new position in AxoGen during the fourth quarter valued at approximately $30,000. US Bancorp DE acquired a new stake in shares of AxoGen in the 4th quarter valued at $30,000. State of Wyoming bought a new stake in AxoGen in the fourth quarter worth $31,000. Fifth Third Bancorp bought a new stake in AxoGen in the first quarter worth $92,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in AxoGen during the fourth quarter worth $93,000. Institutional investors 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.