AxoGen (NASDAQ:AXGN) Reaches New 12-Month High – Still a Buy?

AxoGen, Inc. (NASDAQ:AXGN) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $19.19 and last traded at $18.87, with a volume of 91274 shares trading hands. The stock had previously closed at $18.50.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group boosted their price target on shares of AxoGen from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, February 3rd.

AxoGen Trading Down 2.7 %

The firm has a market cap of $792.18 million, a PE ratio of -56.25 and a beta of 1.00. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67. The stock’s fifty day simple moving average is $17.29 and its two-hundred day simple moving average is $14.77.

Institutional Investors Weigh In On AxoGen

A number of hedge funds and other institutional investors have recently bought and sold shares of AXGN. Creative Planning grew its holdings in AxoGen by 152.2% in the third quarter. Creative Planning now owns 29,790 shares of the medical equipment provider’s stock worth $418,000 after purchasing an additional 17,980 shares during the period. Semanteon Capital Management LP purchased a new stake in AxoGen in the third quarter worth about $603,000. Sentry Investment Management LLC grew its holdings in AxoGen by 9.3% in the third quarter. Sentry Investment Management LLC now owns 17,368 shares of the medical equipment provider’s stock worth $243,000 after purchasing an additional 1,483 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of AxoGen during the third quarter valued at approximately $207,000. Finally, Primoris Wealth Advisors LLC purchased a new stake in shares of AxoGen during the third quarter valued at approximately $207,000. Hedge funds and other institutional investors own 80.29% of the company’s stock.

About AxoGen

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.