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

Shares of AxoGen, Inc. (NASDAQ:AXGN) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $25.09 and last traded at $24.9250, with a volume of 165129 shares traded. The stock had previously closed at $24.01.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AXGN. Canaccord Genuity Group lifted their price target on AxoGen from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. HC Wainwright lifted their target price on AxoGen from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Citigroup reiterated a “market outperform” rating on shares of AxoGen in a research report on Thursday, October 30th. JMP Securities set a $34.00 price target on shares of AxoGen in a report on Thursday, October 30th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of AxoGen in a research report on Wednesday, October 29th. Eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $28.86.

AxoGen Stock Performance

The company has a market capitalization of $1.24 billion, a PE ratio of -537.40 and a beta of 1.09. The firm has a 50-day moving average of $19.38 and a two-hundred day moving average of $15.01. The company has a quick ratio of 2.67, a current ratio of 4.14 and a debt-to-equity ratio of 0.59.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings data on Wednesday, October 29th. The medical equipment provider reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. AxoGen had a negative net margin of 0.98% and a negative return on equity of 1.96%. The business had revenue of $60.08 million for the quarter, compared to analysts’ expectations of $56.90 million. AxoGen has set its FY 2025 guidance at EPS. Research analysts anticipate that AxoGen, Inc. will post -0.29 EPS for the current year.

Insider Buying and Selling at AxoGen

In other news, Director William P. Mr. Burke sold 40,235 shares of the stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $20.55, for a total transaction of $826,829.25. Following the sale, the director directly owned 100 shares of the company’s stock, valued at $2,055. This represents a 99.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 133,600 shares of company stock valued at $2,839,945 in the last three months. Corporate insiders own 2.78% of the company’s stock.

Hedge Funds Weigh In On AxoGen

A number of hedge funds have recently bought and sold shares of the business. First Light Asset Management LLC increased its position in shares of AxoGen by 28.2% in the third quarter. First Light Asset Management LLC now owns 5,805,730 shares of the medical equipment provider’s stock valued at $103,574,000 after buying an additional 1,276,487 shares in the last quarter. Vanguard Group Inc. grew its stake in AxoGen by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 2,538,607 shares of the medical equipment provider’s stock valued at $46,964,000 after acquiring an additional 112,679 shares during the period. ArrowMark Colorado Holdings LLC increased its holdings in AxoGen by 20.4% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,958,406 shares of the medical equipment provider’s stock worth $34,938,000 after acquiring an additional 332,498 shares in the last quarter. Balyasny Asset Management L.P. raised its position in AxoGen by 183.9% during the second quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider’s stock worth $20,953,000 after acquiring an additional 1,250,968 shares during the period. Finally, Wasatch Advisors LP lifted its holdings in AxoGen by 14.3% during the third quarter. Wasatch Advisors LP now owns 1,639,351 shares of the medical equipment provider’s stock valued at $29,246,000 after purchasing an additional 205,569 shares in the last quarter. Hedge funds and other institutional investors own 80.29% of the company’s stock.

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.