AxoGen (NASDAQ:AXGN) Hits New 12-Month High – Here’s Why

AxoGen, Inc. (NASDAQ:AXGN) shares reached a new 52-week high on Tuesday . The stock traded as high as $15.24 and last traded at $15.19, with a volume of 223050 shares. The stock had previously closed at $14.20.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JMP Securities upped their target price on shares of AxoGen from $17.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Friday, August 9th. StockNews.com raised shares of AxoGen from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AxoGen has a consensus rating of “Buy” and a consensus price target of $15.00.

AxoGen Trading Up 5.4 %

The firm has a market cap of $655.70 million, a PE ratio of -39.95 and a beta of 1.13. The company has a current ratio of 3.51, a quick ratio of 2.32 and a debt-to-equity ratio of 0.70. The company’s 50-day moving average is $13.71 and its 200 day moving average is $9.95.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.10. AxoGen had a negative net margin of 9.53% and a negative return on equity of 17.30%. The company had revenue of $47.91 million for the quarter, compared to analyst estimates of $43.27 million. As a group, sell-side analysts predict that AxoGen, Inc. will post -0.33 EPS for the current year.

Institutional Trading of AxoGen

Large investors have recently modified their holdings of the company. Sentry Investment Management LLC lifted its holdings in shares of AxoGen by 9.3% during the 3rd quarter. Sentry Investment Management LLC now owns 17,368 shares of the medical equipment provider’s stock worth $243,000 after acquiring an additional 1,483 shares during the period. BNP Paribas Financial Markets increased its position in shares of 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 purchasing an additional 1,651 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of AxoGen by 8.0% during the 1st 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 position in shares of AxoGen by 30.1% during the 1st quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock worth $93,000 after purchasing an additional 2,671 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of AxoGen by 6.2% during the 2nd quarter. Rhumbline Advisers now owns 58,157 shares of the medical equipment provider’s stock worth $421,000 after purchasing an additional 3,380 shares in the last quarter. 80.29% of the stock is owned by institutional investors.

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.