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

AxoGen (NASDAQ:AXGN)‘s stock had its “overweight” rating restated by Cantor Fitzgerald in a report released on Wednesday,Benzinga reports. They presently have a $24.00 target price on the medical equipment provider’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 32.50% from the stock’s previous close.

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

AxoGen Stock Down 2.7 %

Shares of AXGN stock traded down $0.51 during trading hours on Wednesday, reaching $18.11. 52,293 shares of the company’s stock were exchanged, compared to its average volume of 539,406. AxoGen has a fifty-two week low of $5.55 and a fifty-two week high of $21.00. The stock’s 50 day moving average is $17.84 and its 200-day moving average is $15.22. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67. The company has a market cap of $803.20 million, a price-to-earnings ratio of -56.69 and a beta of 1.00.

Institutional Investors Weigh In On AxoGen

Institutional investors and hedge funds have recently made changes to their positions in the stock. R Squared Ltd purchased a new position in AxoGen in the 4th quarter worth $30,000. US Bancorp DE acquired a new position in shares of AxoGen in the fourth quarter valued at about $30,000. State of Wyoming purchased a new position in shares of AxoGen in the fourth quarter worth about $31,000. Quest Partners LLC lifted its holdings in shares of AxoGen by 23,066.7% during the third quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 2,076 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new stake in AxoGen in the fourth quarter valued at approximately $93,000. 80.29% of the stock is currently owned by institutional investors and hedge funds.

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.