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

Research analysts at Lake Street Capital assumed coverage on shares of AxoGen (NASDAQ:AXGN) in a note issued to investors on Monday, MarketBeat reports. The brokerage set a “buy” rating and a $30.00 price target on the medical equipment provider’s stock. Lake Street Capital’s target price points to a potential upside of 70.16% from the stock’s previous close.

Several other equities analysts have also issued reports on AXGN. Canaccord Genuity Group upped their price target on AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $24.00 price target on shares of AxoGen in a research note on Wednesday, March 5th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $22.60.

AxoGen Price Performance

AxoGen stock opened at $17.63 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74. AxoGen has a 52 week low of $5.55 and a 52 week high of $21.00. The firm has a market cap of $781.78 million, a P/E ratio of -55.09 and a beta of 1.02. The business’s fifty day moving average is $18.14 and its two-hundred day moving average is $15.57.

Insider Activity at AxoGen

In related news, Director Amy Mcbride Wendell sold 5,000 shares of the company’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 completion of the sale, the director now owns 97,899 shares in the company, valued at approximately $1,959,937.98. This represents a 4.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 7.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AxoGen

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quest Partners LLC increased its holdings in AxoGen by 23,066.7% in the third quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 2,076 shares during the last quarter. R Squared Ltd bought a new stake in shares of AxoGen in the fourth quarter worth about $30,000. US Bancorp DE bought a new stake in shares of AxoGen in the fourth quarter worth about $30,000. State of Wyoming bought a new stake in shares of AxoGen in the fourth quarter worth about $31,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of AxoGen in the fourth quarter worth about $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.