AxoGen (NASDAQ:AXGN) Stock Rating Upgraded by Wells Fargo & Company

AxoGen (NASDAQ:AXGN) was upgraded by equities research analysts at Wells Fargo & Company to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Several other brokerages have also recently commented on AXGN. Jefferies Financial Group lifted their price target on shares of AxoGen from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. HC Wainwright upped their price objective on AxoGen from $26.00 to $39.00 and gave the company a “buy” rating in a report on Friday, December 5th. Citigroup restated a “market outperform” rating on shares of AxoGen in a report on Thursday, October 30th. Wall Street Zen raised shares of AxoGen from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Finally, Lake Street Capital increased their target price on shares of AxoGen from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, AxoGen currently has an average rating of “Moderate Buy” and an average price target of $36.22.

AxoGen Stock Down 0.7%

Shares of NASDAQ AXGN opened at $35.01 on Thursday. AxoGen has a 12-month low of $9.22 and a 12-month high of $36.00. The firm’s 50-day simple moving average is $32.81 and its 200 day simple moving average is $24.26. The company has a quick ratio of 2.64, a current ratio of 4.09 and a debt-to-equity ratio of 0.54. The company has a market cap of $1.61 billion, a price-to-earnings ratio of -700.20 and a beta of 1.00.

Insiders Place Their Bets

In other news, CEO Michael D. Dale sold 61,463 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $31.21, for a total transaction of $1,918,260.23. Following the transaction, the chief executive officer owned 88,537 shares in the company, valued at approximately $2,763,239.77. This trade represents a 40.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Johnson sold 23,693 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $31.24, for a total transaction of $740,169.32. Following the completion of the transaction, the director owned 13,141 shares in the company, valued at $410,524.84. This trade represents a 64.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 301,680 shares of company stock valued at $9,174,052 in the last quarter. Company insiders own 2.78% of the company’s stock.

Hedge Funds Weigh In On AxoGen

Institutional investors have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC bought a new position in AxoGen during the 3rd quarter worth $27,000. MCF Advisors LLC acquired a new stake in AxoGen in the fourth quarter valued at approximately $30,000. Aquatic Capital Management LLC grew its position in AxoGen by 287.8% in the 3rd quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 1,269 shares during the period. Arax Advisory Partners raised its holdings in shares of AxoGen by 362.4% in the 4th quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock worth $34,000 after acquiring an additional 819 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of AxoGen in the fourth quarter valued at approximately $36,000. 80.29% of the stock is currently owned by institutional investors and hedge funds.

AxoGen Company Profile

AxoGen, Inc is a Florida-based medical technology company that develops and commercializes surgical solutions for peripheral nerve damage. Founded in 2002 and headquartered in Alachua, Florida, the company focuses on restoring nerve function and improving patient outcomes through innovative biologic and engineered products. AxoGen’s offerings address a range of traumatic and iatrogenic injuries, offering alternatives to traditional nerve autografts.

The company’s core product portfolio includes the Avance® Nerve Graft, a decellularized human nerve allograft designed to bridge nerve gaps without the need for a secondary harvest site, and the Axoguard® Nerve Connector and Protector devices, which facilitate nerve coaptation and protect repaired sites from surrounding scar tissue.