Cantor Fitzgerald Reiterates Overweight Rating for AxoGen (NASDAQ:AXGN)

Cantor Fitzgerald reaffirmed their overweight rating on shares of AxoGen (NASDAQ:AXGN) in a research report released on Wednesday,Benzinga reports. Cantor Fitzgerald currently has a $24.00 price objective on the medical equipment provider’s stock.

Separately, Canaccord Genuity Group raised their price objective on shares of AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $20.75.

AxoGen Stock Performance

NASDAQ AXGN opened at $18.21 on Wednesday. AxoGen has a 52-week low of $5.55 and a 52-week high of $21.00. The company has a 50-day simple moving average of $17.84 and a 200 day simple moving average of $15.22. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74. The company has a market capitalization of $807.50 million, a PE ratio of -56.91 and a beta of 1.00.

Insiders Place Their Bets

In other AxoGen news, Director Amy Mcbride Wendell sold 5,000 shares of the 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 completion of the transaction, the director now owns 97,899 shares in the company, valued at $1,959,937.98. This trade represents a 4.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On AxoGen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC boosted its position in shares of 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 acquiring an additional 2,076 shares during the period. R Squared Ltd bought a new position in shares of AxoGen in the fourth quarter valued at approximately $30,000. US Bancorp DE bought a new position in shares of AxoGen in the fourth quarter valued at approximately $30,000. State of Wyoming bought a new position in shares of AxoGen in the fourth quarter valued at approximately $31,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of AxoGen in the fourth quarter valued at approximately $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.