JMP Securities Reaffirms “Market Outperform” Rating for AxoGen (NASDAQ:AXGN)

AxoGen (NASDAQ:AXGN – Get Rating)‘s stock had its “market outperform” rating reiterated by research analysts at JMP Securities in a report released on Wednesday, Benzinga reports. They presently have a $20.00 target price on the medical equipment provider’s stock. JMP Securities’ target price would suggest a potential upside of 141.84% from the company’s previous close.

Separately, StockNews.com raised shares of AxoGen from a “hold” rating to a “buy” rating in a research report on Thursday, November 17th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, AxoGen currently has a consensus rating of “Buy” and an average price target of $17.00.

AxoGen Price Performance

AXGN stock opened at $8.27 on Wednesday. The stock has a market capitalization of $349.74 million, a PE ratio of -12.16 and a beta of 0.54. The company’s 50-day moving average is $9.21 and its 200-day moving average is $10.33. The company has a debt-to-equity ratio of 0.65, a current ratio of 4.35 and a quick ratio of 3.54. AxoGen has a 1 year low of $6.87 and a 1 year high of $13.66.

Insider Buying and Selling

In related news, CFO Peter J. Mariani sold 14,320 shares of the company’s stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $9.55, for a total value of $136,756.00. Following the sale, the chief financial officer now owns 55,555 shares in the company, valued at approximately $530,550.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Peter J. Mariani sold 14,320 shares of the company’s stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $9.55, for a total value of $136,756.00. Following the sale, the chief financial officer now owns 55,555 shares in the company, valued at approximately $530,550.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Peter J. Mariani sold 20,939 shares of the company’s stock in a transaction dated Thursday, January 26th. The stock was sold at an average price of $9.90, for a total transaction of $207,296.10. Following the completion of the sale, the chief financial officer now owns 42,108 shares in the company, valued at approximately $416,869.20. The disclosure for this sale can be found here. 7.51% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AxoGen

Institutional investors and hedge funds have recently made changes to their positions in the business. Swiss National Bank increased its stake in AxoGen by 9.6% in the 1st quarter. Swiss National Bank now owns 93,300 shares of the medical equipment provider’s stock valued at $741,000 after buying an additional 8,200 shares during the last quarter. JPMorgan Chase & Co. increased its stake in AxoGen by 22.5% in the 1st quarter. JPMorgan Chase & Co. now owns 18,479 shares of the medical equipment provider’s stock valued at $146,000 after buying an additional 3,397 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in AxoGen by 48.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 28,823 shares of the medical equipment provider’s stock valued at $229,000 after buying an additional 9,400 shares during the last quarter. MetLife Investment Management LLC increased its stake in AxoGen by 55.4% in the 1st quarter. MetLife Investment Management LLC now owns 23,064 shares of the medical equipment provider’s stock valued at $183,000 after buying an additional 8,224 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in AxoGen by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 1,922,965 shares of the medical equipment provider’s stock valued at $15,269,000 after buying an additional 38,968 shares during the last quarter. Institutional investors and hedge funds own 76.22% of the company’s stock.

AxoGen Company Profile

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Axogen, Inc engages in the development and market of surgical solutions for peripheral nerve regeneration and repair. It also provides products and education to improve surgical treatment algorithms for peripheral nerve damage or discontinuity. The firm’s products include avance nerve graft, axoguard nerve connector, axoguard nerve protector, avive soft tissue membrane, acroval neurosensory and motor testing system, and axotouch two-point discriminator.