AxoGen's (AXGN) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald has reaffirmed its overweight rating on AxoGen (NASDAQ:AXGN) in a recent research report distributed to investors. The firm has set a price target of $24.00 for AxoGen's shares, indicating expectations for strong performance from the medical equipment provider.

In a related note, Canaccord Genuity Group raised its price target for AxoGen shares from $22.00 to $26.00, maintaining a "buy" rating on the stock. Currently, five equity research analysts have recommended buying the stock, reflecting a positive sentiment towards the company. According to data from MarketBeat, AxoGen carries an average rating of "Buy" along with a consensus target price of $20.75.

AxoGen's Stock Performance

On Wednesday, AxoGen's shares opened at $17.73. The stock has experienced fluctuations over the past year, reaching a low of $5.55 and a high of $21.00. The company's 50-day simple moving average is at $17.90, while the 200-day simple moving average stands at $15.26. AxoGen's market capitalization is approximately $786.22 million, with a price-to-earnings ratio of -55.41. Additionally, the company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47, and a current ratio of 3.74.

Insider Activity

In recent corporate activity, AxoGen Director Amy McBride Wendell sold 5,000 shares of the company on March 3rd at an average price of $20.02, amounting to a total transaction value of $100,100.00. Post-transaction, the director's stake in AxoGen decreased by 4.86%, now holding 97,899 shares valued at about $1,959,937.98. This transaction was disclosed in a filing with the Securities and Exchange Commission. Notably, insiders currently own 7% of AxoGen's stock.

Institutional Holdings

Recent changes in institutional ownership have also been noted. Geode Capital Management LLC increased its stake in AxoGen by 3.2% in the third quarter, now owning 1,010,508 shares worth $14,170,000 after acquiring an additional 31,612 shares. FMR LLC made a significant move, raising its position by 743.1% to own 178,957 shares valued at $2,509,000, thanks to an increase of 157,730 shares. Likewise, Barclays PLC grew its position by 119.3% and now holds 72,036 shares worth $1,010,000. State Street Corp also saw an 11.9% increase in its stake, owning 896,674 shares valued at $12,571,000 after an additional investment of 95,051 shares. In total, institutional investors hold 80.29% of AxoGen's stock.

AxoGen Company Overview

AxoGen, Inc. focuses on developing and commercializing innovative technologies for peripheral nerve regeneration and repair. The company's notable products include the Avance Nerve Graft, a biologically active processed human nerve allograft; the AxoGuard Nerve Connector, an aid for the tensionless repair of severed nerves; and the AxoGuard Nerve Protector, which both protects and supports the repair of damaged peripheral nerves. Furthermore, the Axoguard HA+ Nerve Protector provides enhanced protection for peripheral nerve injuries.

AxoGen, Stocks, Investment