AxoGen (NASDAQ:AXGN) Upgraded at StockNews.com

AxoGen (NASDAQ:AXGN) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

Several other brokerages have also issued reports on AXGN. Raymond James began coverage on AxoGen in a report on Monday, July 1st. They set an “outperform” rating and a $13.00 price target for the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $15.00 target price on shares of AxoGen in a research note on Thursday, June 20th. Finally, JMP Securities increased their price target on shares of AxoGen from $17.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $13.80.

AxoGen Stock Up 3.0 %

Shares of NASDAQ:AXGN traded up $0.32 during midday trading on Friday, hitting $11.02. 1,191,723 shares of the stock were exchanged, compared to its average volume of 394,986. The business’s fifty day simple moving average is $8.04 and its two-hundred day simple moving average is $8.02. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.23 and a current ratio of 3.43. AxoGen has a 52-week low of $3.45 and a 52-week high of $11.15. The company has a market capitalization of $481.63 million, a PE ratio of -22.04 and a beta of 1.11.

Hedge Funds Weigh In On AxoGen

A number of institutional investors have recently modified their holdings of AXGN. Rice Hall James & Associates LLC lifted its position in shares of AxoGen by 26.8% during the 2nd quarter. Rice Hall James & Associates LLC now owns 194,269 shares of the medical equipment provider’s stock worth $1,407,000 after purchasing an additional 41,095 shares during the last quarter. Koss Olinger Consulting LLC bought a new position in AxoGen in the 2nd quarter worth approximately $75,000. Acadian Asset Management LLC acquired a new position in shares of AxoGen during the second quarter worth approximately $125,000. Rhumbline Advisers lifted its holdings in shares of AxoGen by 6.2% during the second quarter. Rhumbline Advisers now owns 58,157 shares of the medical equipment provider’s stock worth $421,000 after buying an additional 3,380 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of AxoGen by 9.4% in the second quarter. Bank of New York Mellon Corp now owns 160,892 shares of the medical equipment provider’s stock valued at $1,165,000 after acquiring an additional 13,798 shares during the period. Institutional investors own 80.29% of the company’s stock.

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.