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

AxoGen, Inc. (NASDAQ:AXGN) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $46.26 and last traded at $46.19, with a volume of 1201349 shares. The stock had previously closed at $44.72.

Analyst Ratings Changes

A number of research firms have weighed in on AXGN. Raymond James Financial reissued an “outperform” rating and issued a $48.00 target price on shares of AxoGen in a report on Wednesday, April 29th. Citizens Jmp upped their price target on shares of AxoGen from $42.00 to $50.00 and gave the company a “market outperform” rating in a research report on Wednesday, April 29th. Wells Fargo & Company increased their price objective on shares of AxoGen from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Citigroup reissued an “outperform” rating on shares of AxoGen in a report on Wednesday, April 29th. Finally, HC Wainwright boosted their target price on shares of AxoGen from $39.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.50.

AxoGen Stock Performance

The business has a 50-day simple moving average of $41.65 and a 200 day simple moving average of $35.73. The company has a debt-to-equity ratio of 0.08, a current ratio of 7.10 and a quick ratio of 5.33. The firm has a market cap of $2.46 billion, a PE ratio of -72.17 and a beta of 1.12.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). The company had revenue of $61.46 million for the quarter, compared to the consensus estimate of $57.85 million. AxoGen had a negative net margin of 13.21% and a negative return on equity of 9.63%. Equities research analysts forecast that AxoGen, Inc. will post -0.37 EPS for the current year.

Insider Activity

In other AxoGen news, Director John Johnson sold 11,050 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $43.26, for a total transaction of $478,023.00. Following the sale, the director directly owned 11,050 shares of the company’s stock, valued at $478,023. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy Mcbride Wendell sold 1,647 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $42.60, for a total value of $70,162.20. Following the completion of the transaction, the director owned 93,826 shares in the company, valued at $3,996,987.60. The trade was a 1.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,041 shares of company stock worth $1,268,792 in the last three months. Company insiders own 2.44% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC increased its stake in AxoGen by 1.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 21,473 shares of the medical equipment provider’s stock worth $703,000 after acquiring an additional 371 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of AxoGen by 6.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,943 shares of the medical equipment provider’s stock valued at $296,000 after acquiring an additional 525 shares during the last quarter. Arax Advisory Partners grew its holdings in shares of AxoGen by 362.4% in the fourth quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 819 shares in the last quarter. Brooklyn Investment Group increased its position in AxoGen by 4.2% in the fourth quarter. Brooklyn Investment Group now owns 20,568 shares of the medical equipment provider’s stock worth $688,000 after purchasing an additional 823 shares during the last quarter. Finally, MCF Advisors LLC bought a new stake in AxoGen in the fourth quarter worth $30,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

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.