AxoGen (NASDAQ:AXGN) Sets New 1-Year High – Should You Buy?

AxoGen, Inc. (NASDAQ:AXGN) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $37.88 and last traded at $36.9990, with a volume of 1325004 shares trading hands. The stock had previously closed at $34.76.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Wall Street Zen downgraded AxoGen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Raymond James Financial reiterated an “outperform” rating and issued a $41.00 price objective on shares of AxoGen in a research report on Monday, February 23rd. Citizens Jmp boosted their target price on AxoGen from $34.00 to $42.00 and gave the stock a “market outperform” rating in a research report on Tuesday, February 24th. Wells Fargo & Company started coverage on AxoGen in a research report on Thursday, February 19th. They set an “overweight” rating and a $40.00 target price for the company. Finally, Canaccord Genuity Group restated a “buy” rating and set a $40.00 target price on shares of AxoGen in a research report on Monday, March 30th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, AxoGen presently has an average rating of “Moderate Buy” and an average target price of $39.75.

AxoGen Trading Up 6.5%

The company has a market cap of $1.92 billion, a P/E ratio of -108.92 and a beta of 0.98. The company has a quick ratio of 3.31, a current ratio of 5.11 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $32.58 and a two-hundred day moving average price of $28.79.

AxoGen (NASDAQ:AXGN) last released its earnings results on Tuesday, February 24th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The firm had revenue of $59.90 million for the quarter, compared to the consensus estimate of $59.90 million. AxoGen had a negative return on equity of 13.44% and a negative net margin of 6.97%. On average, analysts predict that AxoGen, Inc. will post -0.29 EPS for the current year.

Insider Buying and Selling at AxoGen

In other news, insider Erick Wayne Devinney sold 5,221 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $32.84, for a total transaction of $171,457.64. Following the completion of the sale, the insider owned 262,781 shares in the company, valued at $8,629,728.04. The trade was a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AxoGen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC increased its holdings in AxoGen by 1.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 21,473 shares of the medical equipment provider’s stock valued at $703,000 after purchasing an additional 371 shares during the last quarter. Arax Advisory Partners increased its holdings in AxoGen by 362.4% in the fourth quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 819 shares during the last quarter. Brooklyn Investment Group increased its holdings in AxoGen by 4.2% in the fourth quarter. Brooklyn Investment Group now owns 20,568 shares of the medical equipment provider’s stock valued at $688,000 after purchasing an additional 823 shares during the last quarter. MCF Advisors LLC bought a new stake in AxoGen in the fourth quarter valued at about $30,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in AxoGen by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock valued at $466,000 after purchasing an additional 1,057 shares during the last quarter. Institutional investors own 80.29% of the company’s stock.

AxoGen Company Profile

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.