AxoGen (NASDAQ:AXGN) Given New $22.00 Price Target at Canaccord Genuity Group

AxoGen (NASDAQ:AXGN) had its target price raised by Canaccord Genuity Group from $18.00 to $22.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 20.81% from the company’s previous close.

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

AxoGen Stock Down 0.3 %

Shares of AXGN opened at $18.21 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74. AxoGen has a one year low of $5.55 and a one year high of $19.06. The stock has a market capitalization of $801.42 million, a price-to-earnings ratio of -56.91 and a beta of 1.00. The stock has a 50 day moving average price of $16.16 and a 200 day moving average price of $13.82.

Hedge Funds Weigh In On AxoGen

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new position in AxoGen during the fourth quarter worth $30,000. Quest Partners LLC boosted its stake in 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 buying an additional 2,076 shares during the last quarter. nVerses Capital LLC acquired a new position in AxoGen during the third quarter worth $56,000. Oppenheimer & Co. Inc. acquired a new position in AxoGen during the third quarter worth $156,000. Finally, Quantbot Technologies LP acquired a new position in AxoGen during the third quarter worth $165,000. Institutional investors and hedge funds 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.