AxoGen (NASDAQ:AXGN) Reaches New 12-Month High at $13.52

Shares of AxoGen, Inc. (NASDAQ:AXGN) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $13.52 and last traded at $13.49, with a volume of 3129 shares. The stock had previously closed at $13.28.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Canaccord Genuity Group reissued a “buy” rating and issued a $15.00 target price on shares of AxoGen in a report on Thursday, June 20th. JMP Securities boosted their price objective on AxoGen from $17.00 to $20.00 and gave the company a “market outperform” rating in a research note on Friday, August 9th. Raymond James began coverage on AxoGen in a report on Monday, July 1st. They issued an “outperform” rating and a $13.00 price objective for the company. Finally, StockNews.com cut shares of AxoGen from a “buy” rating to a “hold” rating in a report on Monday, September 9th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $13.80.

AxoGen Stock Performance

The firm’s 50-day moving average is $10.68 and its 200 day moving average is $8.49. The stock has a market cap of $604.42 million, a PE ratio of -27.58 and a beta of 1.12. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.32 and a current ratio of 3.51.

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

Hedge Funds Weigh In On AxoGen

Several institutional investors have recently bought and sold shares of AXGN. Koss Olinger Consulting LLC acquired a new position in AxoGen during the second quarter worth $75,000. Lazard Asset Management LLC grew its stake in shares of AxoGen by 30.1% during the 1st quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock worth $93,000 after purchasing an additional 2,671 shares during the period. Acadian Asset Management LLC purchased a new position in shares of AxoGen in the 2nd quarter valued at about $125,000. BNP Paribas Financial Markets lifted its stake in shares of AxoGen by 8.6% in the first quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider’s stock valued at $168,000 after purchasing an additional 1,651 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of AxoGen by 8.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,650 shares of the medical equipment provider’s stock valued at $240,000 after purchasing an additional 2,204 shares during the period. 80.29% of the stock is owned by institutional investors and hedge funds.

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.