AxoGen (NASDAQ:AXGN) Reaches New 1-Year High – Time to Buy?

Shares of AxoGen, Inc. (NASDAQ:AXGN) reached a new 52-week high on Wednesday . The company traded as high as $51.56 and last traded at $51.53, with a volume of 359011 shares changing hands. The stock had previously closed at $49.93.

Wall Street Analyst Weigh In

Several research firms have commented on AXGN. Citizens Jmp increased their price objective on shares of AxoGen from $50.00 to $55.00 and gave the company a “market outperform” rating in a research report on Thursday, July 30th. Zacks Research upgraded AxoGen from a “strong sell” rating to a “hold” rating in a research report on Friday, May 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AxoGen in a research note on Wednesday. HC Wainwright boosted their target price on AxoGen from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, Canaccord Genuity Group increased their price target on AxoGen from $50.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, AxoGen presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.56.

AxoGen Stock Up 0.3%

The company has a 50-day simple moving average of $44.62 and a 200-day simple moving average of $39.44. The firm has a market cap of $2.78 billion, a PE ratio of -76.07 and a beta of 1.11. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.60 and a quick ratio of 5.04.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. AxoGen had a negative return on equity of 8.90% and a negative net margin of 13.36%.The firm had revenue of $69.73 million for the quarter, compared to the consensus estimate of $67.10 million. Analysts expect that AxoGen, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Transactions at AxoGen

In other news, Director Amy Mcbride Wendell sold 13,353 shares of AxoGen 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 directly owned 107,976 shares in the company, valued at approximately $5,228,197.92. This trade represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathy Johnson Weiler sold 14,150 shares of the business’s stock in a transaction on 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. Over the last ninety days, insiders sold 95,003 shares of company stock worth $4,482,997. 2.44% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AxoGen

Several large investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC increased its position in shares of AxoGen by 1.8% during the fourth 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 period. PNC Financial Services Group Inc. grew its stake in AxoGen by 6.2% in the first quarter. PNC Financial Services Group Inc. now owns 8,943 shares of the medical equipment provider’s stock worth $296,000 after purchasing an additional 525 shares in the last quarter. Nykredit A S purchased a new position in AxoGen during the 2nd quarter worth $30,000. Arax Advisory Partners increased its holdings in AxoGen by 362.4% during the 4th quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 819 shares during the period. Finally, Brooklyn Investment Group increased its holdings in AxoGen by 4.2% during the 4th 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 period. 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.