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

AxoGen, Inc. (NASDAQ:AXGN) shares hit a new 52-week high on Tuesday . The stock traded as high as $50.19 and last traded at $50.0780, with a volume of 43228 shares changing hands. The stock had previously closed at $49.15.

Wall Street Analyst Weigh In

AXGN has been the topic of a number of recent analyst reports. Zacks Research raised shares of AxoGen from a “strong sell” rating to a “hold” rating in a research note on Friday, May 29th. Wall Street Zen raised AxoGen from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Lake Street Capital increased their price target on shares of AxoGen from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Truist Financial set a $55.00 price objective on AxoGen in a report on Thursday, July 30th. Finally, HC Wainwright lifted their target price 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. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $51.00.

AxoGen Trading Up 1.0%

The firm has a 50-day moving average price of $43.58 and a 200-day moving average price of $38.58. The stock has a market cap of $2.67 billion, a PE ratio of -73.06 and a beta of 1.11. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.04 and a current ratio of 6.60.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. AxoGen had a negative net margin of 13.36% and a negative return on equity of 8.90%. The company had revenue of $69.73 million during the quarter, compared to the consensus estimate of $67.10 million. As a group, equities analysts anticipate that AxoGen, Inc. will post -0.45 EPS for the current fiscal year.

Insider Transactions at AxoGen

In related news, Director Amy Mcbride Wendell sold 13,353 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $48.42, for a total transaction of $646,552.26. Following the completion of the sale, the director owned 107,976 shares in the company, valued at approximately $5,228,197.92. This represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathy Johnson Weiler sold 14,150 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $45.30, for a total transaction of $640,995.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 95,003 shares of company stock worth $4,482,997 over the last three months. 2.44% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AxoGen

A number of institutional investors have recently bought and sold shares of AXGN. MCF Advisors LLC bought a new position in shares of AxoGen in the fourth quarter worth about $30,000. Arax Advisory Partners grew its stake in AxoGen by 362.4% during the fourth quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock valued at $34,000 after acquiring an additional 819 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of AxoGen during the fourth quarter valued at about $36,000. Kestra Advisory Services LLC purchased a new position in AxoGen during the 4th quarter valued at approximately $39,000. Finally, KBC Group NV bought a new stake in AxoGen in the first quarter worth $41,000. 80.29% of the stock is owned by 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.