AxoGen (NASDAQ:AXGN) Sets New 1-Year High – Here’s Why

AxoGen, Inc. (NASDAQ:AXGN)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $47.12 and last traded at $47.1150, with a volume of 51815 shares. The stock had previously closed at $46.43.

Wall Street Analyst Weigh In

Several analysts recently commented on AXGN shares. Wells Fargo & Company raised their price objective on shares of AxoGen from $40.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Lake Street Capital increased their target price on shares of AxoGen from $40.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. HC Wainwright lifted their price target on shares of AxoGen from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Wall Street Zen raised AxoGen from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of AxoGen in a research note on Wednesday, April 29th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.00.

AxoGen Stock Up 0.5%

The firm has a 50-day moving average of $43.01 and a 200 day moving average of $38.14. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of -71.29 and a beta of 1.11. The company has a current ratio of 6.60, a quick ratio of 5.04 and a debt-to-equity ratio of 0.07.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. The company had revenue of $69.73 million during the quarter, compared to the consensus estimate of $67.10 million. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. On average, sell-side analysts anticipate that AxoGen, Inc. will post -0.45 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Kathy Johnson Weiler sold 14,150 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $45.30, for a total transaction of $640,995.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.44% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AXGN. B. Metzler seel. Sohn & Co. AG purchased a new position in AxoGen in the second quarter valued at about $3,746,000. Edmond DE Rothschild Holding S.A. purchased a new stake in AxoGen during the 2nd quarter worth approximately $1,469,000. Lisanti Capital Growth LLC acquired a new position in shares of AxoGen in the 2nd quarter valued at approximately $4,183,000. Tocqueville Asset Management L.P. acquired a new position in shares of AxoGen in the 2nd quarter valued at approximately $8,032,000. Finally, BlackRock Inc. purchased a new position in shares of AxoGen during the 2nd quarter valued at approximately $204,123,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

About AxoGen

AxoGen, Inc is a Florida-based medical technology company that develops and commercializes surgical solutions for peripheral nerve damage. Founded in 2002 and headquartered in Alachua, Florida, the company focuses on restoring nerve function and improving patient outcomes through innovative biologic and engineered products. AxoGen’s offerings address a range of traumatic and iatrogenic injuries, offering alternatives to traditional nerve autografts.

The company’s core product portfolio includes the Avance® Nerve Graft, a decellularized human nerve allograft designed to bridge nerve gaps without the need for a secondary harvest site, and the Axoguard® Nerve Connector and Protector devices, which facilitate nerve coaptation and protect repaired sites from surrounding scar tissue.