AxoGen, Inc. (NASDAQ:AXGN – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $11.57 and last traded at $11.49, with a volume of 161221 shares traded. The stock had previously closed at $11.02.
Wall Street Analyst Weigh In
Several brokerages recently commented on AXGN. Canaccord Genuity Group reiterated a “buy” rating and set a $15.00 price target on shares of AxoGen in a research report on Thursday, June 20th. Raymond James initiated coverage on shares of AxoGen in a research note on Monday, July 1st. They issued an “outperform” rating and a $13.00 price target on the stock. JMP Securities upped their target price on AxoGen from $17.00 to $20.00 and gave the company a “market outperform” rating in a report on Friday, August 9th. Finally, StockNews.com raised shares of AxoGen from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $13.80.
Check Out Our Latest Analysis on AXGN
AxoGen Trading Up 6.2 %
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in AxoGen by 8.6% during the 1st quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider’s stock worth $168,000 after buying an additional 1,651 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of AxoGen by 8.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,650 shares of the medical equipment provider’s stock worth $240,000 after purchasing an additional 2,204 shares in the last quarter. Lazard Asset Management LLC increased its holdings in AxoGen by 30.1% in the first quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock valued at $93,000 after buying an additional 2,671 shares during the last quarter. Rhumbline Advisers increased its holdings in AxoGen by 6.2% in the second quarter. Rhumbline Advisers now owns 58,157 shares of the medical equipment provider’s stock valued at $421,000 after buying an additional 3,380 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in AxoGen by 45.9% in the fourth quarter. SG Americas Securities LLC now owns 14,823 shares of the medical equipment provider’s stock valued at $101,000 after purchasing an additional 4,666 shares during the last quarter. 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.
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