AxoGen (NASDAQ:AXGN) Sets New 12-Month High – Should You Buy?

Shares of AxoGen, Inc. (NASDAQ:AXGN) reached a new 52-week high during trading on Monday . The stock traded as high as $46.95 and last traded at $44.7710, with a volume of 117338 shares trading hands. The stock had previously closed at $45.89.

Analyst Upgrades and Downgrades

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

AxoGen Trading Down 1.9%

The firm’s 50-day simple moving average is $42.32 and its 200 day simple moving average is $36.17. 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 capitalization of $2.39 billion, a price-to-earnings ratio of -70.21 and a beta of 1.09.

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

Insider Activity

In other AxoGen news, Director Amy Mcbride Wendell sold 1,647 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $42.60, for a total value of $70,162.20. Following the sale, the director owned 93,826 shares in the company, valued at $3,996,987.60. This trade represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John Johnson sold 11,050 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $478,023. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 29,041 shares of company stock worth $1,268,792. Corporate insiders own 2.44% of the company’s stock.

Institutional Investors Weigh In On AxoGen

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its position in AxoGen by 14.2% in the first 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 last quarter. AQR Capital Management LLC grew its holdings in shares of AxoGen by 45.3% during 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 valued at $466,000 after buying an additional 1,057 shares during the period. Jones Financial Companies Lllp increased its stake 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 valued at $194,000 after buying an additional 10,481 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in AxoGen by 37.3% in the 2nd 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 last quarter. Institutional investors own 80.29% of the company’s stock.

AxoGen Company Profile

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.