AxoGen (NASDAQ:AXGN) Reaches New 1-Year High – Time to Buy?

AxoGen, Inc. (NASDAQ:AXGNGet Free Report)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $50.19 and last traded at $50.0780, with a volume of 43228 shares traded. The stock had previously closed at $49.15.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Citigroup restated a “market outperform” rating on shares of AxoGen in a research report on Thursday, July 30th. Zacks Research raised shares of AxoGen from a “strong sell” rating to a “hold” rating in a report on Friday, May 29th. Lake Street Capital boosted their price objective on AxoGen from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. HC Wainwright increased their price target on AxoGen from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Raymond James Financial reissued an “outperform” rating and set a $48.00 price objective on shares of AxoGen in a research note on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.00.

Get Our Latest Stock Analysis on AxoGen

AxoGen Trading Down 2.5%

The company has a debt-to-equity ratio of 0.07, a current ratio of 6.60 and a quick ratio of 5.04. The business’s 50-day moving average is $43.88 and its two-hundred day moving average is $38.79. The firm has a market cap of $2.63 billion, a P/E ratio of -71.95 and a beta of 1.11.

AxoGen (NASDAQ:AXGNGet Free Report) last released its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. AxoGen had a negative return on equity of 8.90% and a negative net margin of 13.36%.The business had revenue of $69.73 million for the quarter, compared to analyst estimates of $67.10 million. As a group, analysts predict that AxoGen, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Activity at AxoGen

In other AxoGen news, Director Kathy Johnson Weiler sold 14,150 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $45.30, for a total transaction of $640,995.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy Mcbride Wendell sold 13,353 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $48.42, for a total value of $646,552.26. Following the completion of the sale, the director owned 107,976 shares of the company’s stock, valued at $5,228,197.92. This trade represents a 11.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 95,003 shares of company stock worth $4,482,997. Company insiders own 2.44% of the company’s stock.

Institutional Trading of AxoGen

A number of institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its position in shares of AxoGen by 14.2% during the 1st quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock valued at $704,000 after acquiring an additional 4,723 shares during the period. AQR Capital Management LLC boosted its stake in shares of AxoGen by 45.3% during the first quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider’s stock valued at $442,000 after purchasing an additional 7,453 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in AxoGen by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock worth $466,000 after acquiring an additional 1,057 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of AxoGen by 104,810.0% in the first quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider’s stock worth $194,000 after purchasing an additional 10,481 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of AxoGen by 37.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 379,070 shares of the medical equipment provider’s stock valued at $4,113,000 after buying an additional 103,072 shares during the last quarter. Institutional investors own 80.29% of the company’s stock.

AxoGen Company Profile

(Get Free Report)

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.

Further Reading

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