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

Shares of AxoGen, Inc. (NASDAQ:AXGN) reached a new 52-week high on Monday . The stock traded as high as $47.12 and last traded at $47.1150, with a volume of 51815 shares. The stock had previously closed at $46.43.

Analysts Set New Price Targets

AXGN has been the topic of a number of research reports. Truist Financial set a $55.00 price objective on AxoGen in a research note on Thursday, July 30th. Lake Street Capital lifted their target price on shares of AxoGen from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Wall Street Zen raised shares of AxoGen from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. HC Wainwright upped their price target on shares of AxoGen from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Canaccord Genuity Group raised their price objective on shares of AxoGen from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, AxoGen currently has an average rating of “Moderate Buy” and an average price target of $51.00.

AxoGen Trading Up 2.3%

The firm has a 50 day simple moving average of $42.64 and a 200 day simple moving average of $37.92. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.04 and a current ratio of 6.60. The firm has a market cap of $2.55 billion, a P/E ratio of -69.88 and a beta of 1.11.

AxoGen (NASDAQ:AXGN) last posted its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $67.10 million. On average, equities research analysts predict that AxoGen, Inc. will post -0.45 EPS for the current fiscal year.

Institutional Trading of AxoGen

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in AxoGen by 14.2% in the 1st quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock valued at $704,000 after purchasing an additional 4,723 shares during the period. AQR Capital Management LLC increased its holdings in shares of AxoGen by 45.3% in the first quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider’s stock worth $442,000 after purchasing an additional 7,453 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of 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 worth $466,000 after buying an additional 1,057 shares in the last quarter. Jones Financial Companies Lllp raised its position 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 buying an additional 10,481 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in AxoGen by 37.3% during the second 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 period. Institutional investors own 80.29% of the company’s stock.

About AxoGen

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.