Canaccord Genuity Group Boosts AxoGen (NASDAQ:AXGN) Price Target to $22.00

AxoGen (NASDAQ:AXGN) had its price objective hoisted by Canaccord Genuity Group from $18.00 to $22.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the medical equipment provider’s stock.

Separately, StockNews.com upgraded AxoGen from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th.

AxoGen Trading Up 4.4 %

Shares of NASDAQ:AXGN opened at $18.88 on Monday. The stock has a market capitalization of $830.91 million, a price-to-earnings ratio of -59.00 and a beta of 1.00. AxoGen has a 1-year low of $5.55 and a 1-year high of $19.06. The company has a 50 day moving average price of $16.44 and a 200 day moving average price of $13.98. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in AxoGen by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider’s stock worth $14,170,000 after purchasing an additional 31,612 shares during the period. State Street Corp lifted its holdings in shares of AxoGen by 11.9% in the third quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock valued at $12,571,000 after purchasing an additional 95,051 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of AxoGen by 2,912.3% in the third quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider’s stock worth $7,697,000 after buying an additional 530,775 shares during the period. Parkman Healthcare Partners LLC purchased a new position in shares of AxoGen during the third quarter valued at $5,789,000. Finally, Charles Schwab Investment Management Inc. raised its position in AxoGen by 8.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 363,764 shares of the medical equipment provider’s stock valued at $5,100,000 after buying an additional 28,659 shares during the period. 80.29% of the stock is owned by hedge funds and other institutional investors.

AxoGen Company Profile

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.