AxoGen (NASDAQ:AXGN) Reaches New 52-Week High – Here’s Why

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AXGN. JMP Securities lifted their price target on shares of AxoGen from $17.00 to $20.00 and gave the company a “market outperform” rating in a research note on Friday, August 9th. StockNews.com upgraded AxoGen from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $15.00.

AxoGen Price Performance

The firm has a 50-day simple moving average of $13.81 and a 200-day simple moving average of $10.05. The firm has a market cap of $581.62 million, a P/E ratio of -31.87 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.

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

Institutional Trading of AxoGen

A number of institutional investors have recently bought and sold shares of AXGN. Quest Partners LLC lifted its stake in shares of 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 period. nVerses Capital LLC purchased a new stake in AxoGen during the 3rd quarter valued at about $56,000. Koss Olinger Consulting LLC acquired a new position in shares of AxoGen in the second quarter valued at about $75,000. Lazard Asset Management LLC increased its holdings in shares of AxoGen by 30.1% in the first quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock valued at $93,000 after purchasing an additional 2,671 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of AxoGen in the second quarter worth about $125,000. 80.29% of the stock is currently owned by institutional investors and hedge funds.

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.